Oil and gas stocks have been decimated in the past year as people fled the carnage. We saw a bottom in the market during the early winter and have had a rebound in recent months. While much of the focus is on oil, I believe the much bigger long-term opportunity is in natural gas.
A few weeks ago David Einhorn put together a presentation that largely coincides with my view of the oil and gas stocks. His short view is that many of the oil frackers are overvalued, but that the companies geared towards natural gas are competitive on a global scale.