No. of Recommendations: 11
Re the original suggestion of XOM as a possible investment pick.
Perhaps there is alternative merit in the picks and shovels approach? Almost literally, in this case. Not quite so dependent on the commodity price.
At least superficially, Schlumberger (SLB) at $36.80 seems pretty modestly valued at the moment. It was trading around $56 as recently as this spring, and they're probably making money these days at a rate of about $4/share/year. Nice balance sheet.
I don't own the thing, but the more knowledgeable folks might find it worth a bit of reading.
Jim
