Energy Spending Going Up, Up, Up
This is pretty big for the oil and natty gas industry:
Sorry if you need a subscription to read, but the gist is that they plan to spend a lot. Here's a snippet (bold emphasis mine):
"From giants Saudi Aramco and Exxon Mobil Corp. to five-person wildcat outfits, the industry plans to spend nearly a half-trillion dollars next year to find and extract oil and natural gas, according to a new survey by investment bank Barclays Capital."
So what does this have to do with my portfolio? I don't own any energy stocks...yet.