For Immediate Release
Chicago, IL – April 7, 2010 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include: Chesapeake Energy (CHK), EnCana (ECA), Transocean (RIG), Diamond Offshore (DO) and Pride International (PDE)..
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Here are highlights from Tuesday’s Analyst Blog:
What the Fed Staff Really Thinks
“The U.S. international trade deficit widened in December but narrowed slightly in January, ending the period a little larger. Both exports and imports rose sharply in December before pulling back somewhat the following month. For the period as a whole, the rise in exports was broadly based, with notable gains in aircraft and industrial supplies. Oil and other industrial supplies accounted for much of the increase in imports over the two months, while purchases of consumer products declined.”
Again, substituting for different energy sources would be like a serious dose of radiation to help cure the economic cancer of the trade deficit. Much better to have Chesapeake Energy (CHK) and EnCana (ECA) creating jobs by drilling for natural gas in the Barnett and Marcellus shale formations than to send all of our money to Saudi Arabia and Venezuela.
The recent move to open up new offshore drilling areas is a step in the right direction and seems to strike the right balance between the need for more domestic energy supplies and the need to protect the environment. However, it will be a long time before those supplies actually find their way to your gas tank.
Still, it is likely that we will be even more in need of domestic energy supplies a decade from now than we are today, so we will be glad we have those supplies when they finally do come on line. The deepwater Central/Eastern Gulf of Mexico is probably the most promising of the areas opened up. That should cause even more demand for deep water rigs that are already in rather short supply, much to the benefit of the owners of those fleets like Transocean (RIG), Diamond Offshore (DO) and Pride International (PDE).
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