There's an old German proverb that goes, "Instead of complaining that the rosebush is full of thorns, be happy that the thorn-bush has roses." What a brilliant little riddle, and a fitting one too, given the growing state of anger lately surrounding the rising price of gasoline.
Whether it's right or wrong, a passing problem or a hardship that's here to stay, you can either fight the issue and complaint about it OR seek to even the score and get long some oil stocks.
"I like them. Not just big oil, but most of the oils," says David Steinberg, founder of DLS Capital Management in Chicago --a self-proclaimed deep value shop that invests in companies that are way out of favor.
CRS report shows much higher US oil, gas reserve levels than previously thought.
Republicans in Congress advanced against the EPA and the Obama administration’s energy policy on two fronts today. In the House, the Energy and Commerce Committee approved a bill to stop the EPA from implementing regulations to enforce its finding on carbon dioxide emissions as a pollutant. The bill will certainly pass the House, and might pass the Senate as well:
Obama OKs Oil Exploration Along Atlantic Coast, But Not Drilling
The Obama administration today endorsed new oil and gas exploration along the Atlantic Coast, setting the stage for possible future drilling lease sales.
The announcement by the Interior Department sets into motion what will be at least a five year environmental survey to determine whether and where oil production might occur.
It also comes as President Obama faces mounting pressure over high gas prices and criticism from Republicans that he has opposed more drilling for oil.
“Making decisions based on sound science, public input and the best information available is a critical component to this administration’s all-of-the-above energy strategy,” said Interior Secretary Ken Salazar.