Profiting from Oil: Apache, Devon & More
As President Bush called for dropping the ban on offshore oil drilling, CNBC asked the experts how to profit from oil.
“We’re dealing with very long-term solutions to a problem that’s going to be with us for quite some time. The outlook on oil prices doesn’t change on this, so the producers, the big holdings we have, names like Apache and Devon[Energy] continue to benefit from a very tight worldwide supply demand situation.”
- Charles Bath, Diamond Hill Large Cap Fund
Bearish on Boeing
“As long as oil remains high, nobody wants to buy Boeing. Even if Boeing’s new plane is the solution, we don’t care. So, I think Boeing—as much as I really like it— you’ve got to wait 18 months for it to move, and that’s just not the time frame of this market.”
- Jim Cramer, Mad Money host