[laserboy]

For what it's worth, most stock analysts are still using forward projections of $40/barrel or less for their earnings estimates and valuations. With oil prices hovering significantly above $40, their future earnings look much more attractive than current estimates seem to indicate. My personal belief is that the days of $40 oil are behind us.

And even with $40 oil, many of these oil companies are still valued at less than 10X cashflow. Very few other sectors offer this kind of valuation.