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According to BusinessWeek (9/15 issue), Noble's diversified fleet of 62 deepwater and shallow drilling rigs ... are running flat out!
Sep 08 11:14 am
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All Comments by Danny/The Digger »Oil, Stock, and Housing Declines [View article]
Now, why do you think that is ... IF oil is not as valuable today as it was at its July peak? Do you really think it is speculators that are "driving" the true value of oil?
Or, do you think it might have something to do with the rise in the value of the U.S. dollar? And what justifies the increase in the value of the dollar? Currency speculators????
My advice is that energy investors should keep their energy holdings, be patient, and enjoy future increases in the value of that sector.