Oil is still one of the best bets for long-term gains says Greg Guenthner. In the midst of blind market panic, investors are forgetting that crude is a finite resource facing unquenchable demand. It will rise to record highs again. And when it does, oil stocks will soar.

This from The Rude Awakening:

During times like these, it’s all too easy to become caught up in the moment. Fear is a powerful emotion. As the markets continue to crumble, many investors lose sight of their goals. They sell positions indiscriminately; they become irrational.

The sell-off we’re experiencing right now is global. And no stock or commodity has escaped the devastation. That’s why we’re looking at a scarce and valuable resource for steady long-term gains: oil.

One energy guru recently made a big bet on oil. He repurchased shares of Exxon (NYSE:XOM), ConocoPhillips (NYSE:COP), Pioneer Natural Resources (NYSE:PXD), BP (NYSE:

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Oil is still one of the best bets for long-term gains says Greg Guenthner. In the midst of blind market panic, investors are forgetting that crude is a finite resource facing unquenchable demand. It will rise to record highs again. And when it does, oil stocks will soar.

This from The Rude Awakening:

During times like these, it’s all too easy to become caught up in the moment. Fear is a powerful emotion. As the markets continue to crumble, many investors lose sight of their goals. They sell positions indiscriminately; they become irrational.

The sell-off we’re experiencing right now is global. And no stock or commodity has escaped the devastation. That’s why we’re looking at a scarce and valuable resource for steady long-term gains: oil.

One energy guru recently made a big bet on oil. He repurchased shares of Exxon (NYSE:XOM), ConocoPhillips (NYSE:COP), Pioneer Natural Resources (NYSE:PXD), BP (NYSE:

...

Oil was given a lift yesterday. But at $81.19 a barrel, the black goo is still almost $70 from its July peak.

Greg Guenthner isn't sweating it.

Oil prices have been caught up in widespread panic selling of recent months. It remains a scarce and essential commodity. This means it is only heading in one direction over the long term.

Greg recommends following oil guru Richard Rainwater's cue and buying into oil stocks with both hands.

Crude oil futures zoomed more than $16 a barrel yesterday (Monday) - and traded as high as $130 a barrel - thanks to a steep decline in the U.S. dollar and speculation that the Bush administration’s plan to bail out the financial sector might actually jump-start the U.S. economy. The record single-trading-session gain came on a day when CNNMoney.com republished a brand new Fortune magazine story in which author and noted "peak oil pundit" Matthew R. Simmons stated that crude prices were headed for $500 a barrel. At that price level, gasoline would cost more than $10 per gallon. Crude oil for October delivery soared $16.37 a barrel, or 15.7%, to close at $120.92 a barrel on the New York Mercantile Exchange (CME). The gain surpassed the previous price-gain record for a single day of $10.75, a move that occurred on June ...