Oil… Oil… & Oil…

You can’t go anywhere these days without people talking about the price of oil. On my drive home from work yesterday I went through the drive-thru at McDonald’s just to get a diet coke for the ride home — and the drive-thru clerk pointed out how much money I likely just wasted in gas while waiting for the people ahead of me in their cars to get their orders.
And, if you missed the first part of Squawk Box on CNBC this morning, you didn’t miss much. They talked about oil… and oil… and, oh yeah… oil. Okay, they did talk about a few other things, but it seemed most of it was about… drum-roll please… oil.
So, it was unsurprising when I clicked over to today’s Wall Street Journal and read a story saying there are some in the oil industry, as well as in our Congress, who are looking into the possibility of lifting the longstanding restrictions to drill in environmentally sensitive domestic areas.
On a personal note, I’m in a bad mood that Solarfun hurt my portfolio in this week’s CNBC Million Dollar Portfolio game. Personally, I think it’s still a great longterm play, but this game is really all about who has the best short-term strategies.

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