With the price of oil now at $78, something I consider unusually low because Saudi Arabia rarely maintains its production amidst declining prices (usually, the Saudis run their oil spigots in a self-correcting manner, decreasing production during hints of substantial price declines and calibrating production increases as necessary during price hikes to keep energy prices in a desired zone), I have made no secret of the fact that I’ve recently been turning my attention towards oil stock investments. I think the prices for many have become attractive in their own right, and especially attractive on a relative basis compared to much of the rest of the blue-chip universe (though with Nestle now in the $72 range, it’s not like there aren’t any growth-at-a-reasonable-price blue chip investments out there).
In a way, it almost doesn’t matter which oil giant you choose: BP. Total. Royal Dutch Shell. Exxon. Kinder Morgan. Chevron. Conoco … Read the rest of this article!