With oil again over $60, it looks to me like Anadarko Petroleum (APC – $40.76) is on sale.  I bought more today at $40.84. 

This price works out to a trailing p/e of 6.65 (and that's based on oil prices in the 50's, not above 60.  Now, as much as I wish this weren't true, the world's energy needs as provided by fossil fuels are going to increase over the next decade.  I just don't see much of anything slowing the industrialization and wealth increases in Asia (China and India are the two biggest examples)).

I don't have a judgment on the company's position and actions around climate change, but I'm impressed that Anadarko at least has one.  You can see it on their website here.

Disclosures and Confessions:  I own APC.  I have been buying it over the last two years with my first buys in the winter of 2004 at prices around $25.50.  Latest buy a few weeks ago at $43.80.  I am short May 35 puts on APC.

Disclaimer:  Nothing in this trade log is meant to be specific financial advice or a recommendation to buy or sell.  I do not give investment advice.  Do your own research.  Do not rely on anything in this weblog to make investment decisions.  I do not log all my trades here. I only describe or mention those that I think might be interesting. Consult an investment professional familiar with your specific financial situation before buying or selling any security.  Options may be for me but they are are not for everyone.  

 
Model Oil Rig Photo courtesy of Winkydoo via Creative Commons and Flickr  

 Oil Well at Sunset Photo courtesy of Imahornfan via Creative Commons and Flickr