Ofshore drilling is not the same thing as the death of the nuke power industry. No nuclear we can still do oil and coal. No nukes and no oil, we can't get by. Drilling will happen once the curent crisis is solved and th industry comes up with ways to avoid another huge spill. It's not going away unless half the cars onthe road are goign away, and that ain't real likely - too many Hummer driving drill baby drillers out there. This is all temporary and the smart people out there are buying drilling stocks at bargain prices and then waiting. If you can't double your money in 2 years on this crisis you're either chicken or dumb.
And for the record this isn't Obama's fault, but the man does seem to have incredibly bad luck and a lot of people out there who should be smart enough to know better have awfully short memories. If all his detractors would shut up for 3 months the outlook would become so bright there WOULD be jobs. But no, they hate him so much they just keep cutting off their nose to spite their face.
anyway, I just bought up another 4000 shares of NE. It's a screaming bargain unless you believe that offshore drilling around the world will cease, and I don't.
Oops my mistake I misunderstood your post at first. well personally I think Obama ought to leave the strategic reserves alone and let market forces drive up oil prices. But then I've thought for years that gas at the pump oughta be $5 a gallon and the taxes that made it so ought to be used to buy all the oil we can pump into our own salt domes so our reserves were way more than they normally are. keep the Arabs from yanking our chain so much.
How exactly can you lose money in a well run oil drilling concern when current economic and environmental concerns are likely to create a shortage of oil? There ain't no idle rigs when the price of oil is way up.
About the only way that I can see that you could lose money right now is to sell out of fear, which just lets the big money take your shares off your hands for lots less than they are worth.
A little patience it probably in order.
If you ain't in, it's probably time to get in. If you've been in, it sure as heck ain't the time to get out if you ask me, which I understand you didn't but hey that's my take.