More offshore drilling coming...

This is good news for Seadrill. The senate approved more offshore drilling today. Support was strong as the vote was 71-25.

Here's some interesting info on PDC. First, natural gas is very high despite higher than average stores for this time of year. I see two trains of thought on this. 1. One could think that supplies are fine and prices of natural gas will plunge. 2. One could come to the conclusion that since supplies are fine and prices are still high, any disruption in supply will cause prices to skyrocket.

Another thing: the short ratio on PDC is 6.5%. (For comparison, Vonage is at 4.2%. and that's my number 1 short right now.) I think PDC will be worth $20 next year when their earnings on the winter season come out. If the short sellers get shaken off, PDC could go much higher.