Wednesday, June 23, 2010
Stock Picks for July
British Petroleum has done a number on the oil industry, and so have the problems in Europe. Of, course, President Obama's moratorium on deep water drilling has had a big part in contributing to the sagging oil industry. Many of these oil stocks are down as much as 40-50 percent over the past couple of months. Thousands of oil workers are out of work because of the moratorium. Pretty sad, isn't it?
However, what our president and other environmentalists fail to understand is that our country and our world is still dependent on oil. It is still one of the cheapest and most readily available energy products.... and our world is still set up that way. All of that leads to this: There is going to be an oil shortage, which will then push up the price of crude oil. The result of this is that oil companies will once again see increased profits..... but this time with less production. Oil stocks are poised to go up. Want to make some money? That's where I would invest..... am invested.
Of course, if you want to buy the best and most dependable stock, you can always buy Apple (AAPL) at nearly $275 per share.
Knock Starbucks if you want to. That's the other black gold (black coffee). Or you can buy some Starbucks stock, buy a cup of coffee, and watch your stock go up. They are recovering nicely and most Starbucks shops I go into are constantly busy. And I visit a lot of Starbucks. If people have to choose between coffee and food.... they must be choosing coffee.