I've maintained an investment in Ensco (NYSE:ESV) since 2005.
By 2005, it was obvious even to inattentive observers (and I was an attentive one, doing research in energy in general and in the Peak Oil issue in particular - and I was an early investor in long-term CL (WTI futures) contracts, even when they were still traded in the NYMEX pit instead of in an electronic platform) that the times of cheap oil were gone forever.
The inability to go on increasing oil production capacity in the already well-explored on-shore fields of the world was a given. And those are the cheap fields, where liquid crude oil flows out of the Hearth by itself. They represented (and still...
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