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Rearranging an Energy Portfolio Geographically

Peak Oil still applies.

Throwin the baby out with the bathwater is now ragin-

Go for dividend play with good prospects.

Iran, Nigeria, declining fields of major reserves aka Mexico, Prudoe Bay, NorthSea Oil, et al -perhaps even Saudi reserves gives rise to big returns somewhere down the road.
Canadian Oil might provide a currency appreciation also.

If you have testes of steel