Filed under: Schlumberger Limited (SLB), Stocks to BuyToday's important stories from TheStreet.com: Jim Cramer's Portfolios of the Week,
Cramer's 'Mad Money' Recap: Spotting Tops and Bottoms.
Worry about something else other than the chance that the Federal Reserve won't cut its short-term interest rate target. Worry about how little oil is out there to find, how we are running out of cheap natural gas and how China is the linchpin in oil usage, not us.
Those are some of the trepidations that I feel after reading the incredibly good speech by Schlumberger (NYSE: SLB) chief Andrew Gould earlier this month, available on the company's fantastic Web site.
Gould's dealing with the realities of why the Oil Service HOLDRs (AMEX: OIH) won't quit. Easy oil is indeed running out, despite what the bulls tell us. The new additions to old fields give out earlier. The kind of oil and natural gas that is still left to find in North America is low-quality and not deeply reserved. The places where oil can be found are all deepwater or remote.Continue reading Cramer on BloggingStocks: Why oil's still the place to bePermalink |
