The management of EnCana Corporation (ECA) concentrates on legacy projects and what is termed "unconventional production." This extracts natural gas from gassy shales, tight sands and coal-beds, as well as tar sands in the Athabasca region of northern Alberta, Canada. These types of projects take many years to be identified, developed, and produced, but once ongoing they often maintain output for long periods of time (15 - 30 years).

One problem is that at the just getting started phase capital costs are great. However, they do produce at continuous rates that are often higher than regular wells in their maturity. Further, they are especially enhancing to earnings when prices for oil and gas are rising and the sunken costs of unconventional wells are able to set a strong pace of output without replacement.

ECA's ouput continues to rise, quarter after quarter, which means for Q1 2008 up 18% for

The long term bull case for sugar prices relates to global sugar-based ethanol use. Sugar is attractive in absolute terms as well as versus oil and corn prices on a 2 to 3 year view. It is also bullish for Brazil. The catalyst is a rising floor under the price of energy which increases "food for fuel" demand for sugar based ethanol. Although the world has greatly increased its share of sugar for energy use over the past 20 years, the levels of ethanol replacement in the US (1.5%) and the rest of the world (0.4%) is still greatly lagging that of Brazil (14.0%). Simply put, skyrocketing oil prices and growing concerns over climate change will boost global demand for renewable and cheap bio-energy, where Brazilian sugar has a 35-year track record of economic feasability.

Cosan Limited (CZZ) is the largest producer of sugar based bio-energy in the world