Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Wednesday, December 17, 2008

Feel the Energy

So Saudi Arabia says OPEC will cut production by another 2 million barrels a day, and Russia will go along for the ride.

This is the right move the Saudis had to make. And it's good for our long-term energy future. We need exploration to provide future supply, and the only way to get that is if oil is north of $60 to $70 a barrel.

And now let's look at a chart of ExxonMobil ...
This is pre-market, so it may be old news by the time you read it. If you’re brave, you can buy energy on XOM’s retest of around 81.90, or you can wait for a confirmation close today.

Labels: ,

Check out my new gold and energy blog at