Oil Majors Should Just Buy Real Gold [View article]
Oil companies should buy oil sands assets while they are so cheap especially COSWF and DVN. Oil and gas will go up faster than gold when the economy improves. You need oil for economic growth, you don't need gold.
I don't buy the premise that oil is going to $60 hence I still own PCZ, COSWF, CVX, and DVN. Even if oil does hit $60 I am holding and buying these stocks at current prices or below. PCZ, COSWF, and DVN should be able to grow production and earnings.
The Saudi's are just blowing smoke up our ass again. They don't have the capacity to increase production unless you count the heavy oil that no one wants. Stay long the oil companies until it all runs out or Obama nationalizes them.
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Oil Majors Should Just Buy Real Gold [View article]
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