Will This Massive Oil Strike Eliminate U.S. Dependence on Foreign Oil?
Its the largest U.S. oil discovery since Alaskas Prudhoe Bay in 1967. And now with oil hanging around $145 a barrel, pressure is on to start pumping as soon as possible. Only one company has been there since the beginning and is snapping up drilling rights as fast as it can. Go here and look at my Niche #6 for an almost guaranteed way to profit from this game-changing oil strike. As Ive outlined before in this journal, I think investors fears surrounding the stock are overblown. Chesapeake has been successfully raising cash by selling off partial stakes in some of its hottest plays. And the stock also has hedges covering a large part of its expected 2009 production, so it has little near-term exposure to commodity prices whatsoever. But we know the Super Oils are interested in Americas unconventional natural gas plays–and in Chesapeake specifically. After all, BP and StatOil (NYSE: STO) have purchased partial stakes in key Chesapeake unconventional plays in recent months; it doesnt se
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