Agreed. Every morning at 5:30 am I get on the interstate into my moderate sized Midwestern US city and wrestle with the already busy traffic and I say outloud to myself:
Forget the daily talking heads bs. Here's what's gonna happen:
Not enough cap ex in this sector. Not enough of a real move to alternatives. 7 billion people in the world in 2011. We'll use oil until it's prohibitively expensive. As that time gets closer, massive profits in this sector. A little bit before the well runs dry (and who knows when that is): SELL IT ALL!
Recently switched out of XLE into BP for the much better yield. Also holding LINE, looking for maybe a little more energy. I'm working on building an income portfolio for retirement in a few years.