Something will happen at the June 21 meeting. If oil prices continue to stay in the $29 to $30 range, you will see action.

From a risk-reward stand point, there's very limited down side here. You have to remember many of these oil companies are stocks are basically at 12-month lows. They were at these levels when oil prices were at $11. What you have right here, it is a momentum market....[and] once you start to see the oil price consolidate, you come in in full force and frankly, you can start to pick some of these names up right now.

Energy in general will have great earnings momentum.

If crude oil remains high, sugar prices will not be far behind.

In the early years, oil revenues will be insufficient.

Texaco was hurt by weakness overseas. Refining margins in Europe and Asia are atrocious -- and Arco (Atlantic Richfield) just doesn't have that exposure [in those markets].