SPDR S&P Oil & Gas Explore & Prod. (ETF) (AMEX:XOP)

georcole (91.80) Submitted: 3/6/2011 7:25:44 PM : Start Price: $60.74 XOP Score: -19.09

Has anybody heard anything about the Middle East? Last I knew, we have at least three countries in the process or already finished overthrowing their rulers. They are protesting and so things are getting very close to ugly in a couple other countries as well over there. That area of the world produces somewhere in the neighborhood of 80% of the world's oil. With all of the civil unrest going on, how are they supposed to keep producing oil at the levels that they have been? Hopefully this is a short term problem. I am not hoping for $10.00 per gallon gasoline, and I seriously doubt if it will get anywhere near there, but I am ready just in case. I bought 20 gallons of gas for my motorcycle. That will hold me through for a month. Just in case.