deep-water oil... (click here)

As oil prices stay high, Seadrill's rigs will become more and more valuable. With cheaply drilled oil becoming scarcer, deep-water rigs will become more essential to the global supply chain. Those who say that we aren't about to run out of oil are right, but the future supply is in deep-water, oil sands, oil shale, etc. These are all capital and technology intensive projects.

BP posted record profits, along with costs. Lord Browne, BP's CEO said, "The highest inflation is the cost of drilling rigs. Dayrates for ultra-deepwater rigs has increased to $500,000." (And BP's still making money on them!)