Despite what Gore claims, demand for oil has been steadily on the climb – a trend that is sure to continue given the explosion of development by third world countries. Look for oil drilling companies to perform very well long or short term.
From a valuation perspective, Atwood Oceanics (ATW) is quite attractive. Analysts expect profits at the company to grow by 20% next year. That result is virtually guaranteed no matter what Gore says about oil being a bubble. With shares trading for 10 times 2013 estimated earnings, how can you not own this stock? It’s a no-brainer.