JBL: Mining the New Black Gold

When you are bad throughout the year, rumor has it that at Christmas you will receive a lump of coal in your stocking. This year, I recommend you be bad because owning coal this Christmas is a good thing. Besides, being bad is more fun anyway.

There has been a terrific bull market in commodities this year, but energy prices have eased considerably since their summer peak. That's due, in part, to things returning to normal after Hurricane Katrina, milder weather, and a seasonally less demanding driving season upon us. Regardless, the pullback in prices has created a good entry point on energy stocks.

Both sides of the aisles in Congress are making sure that lower energy prices are temporary. They can't agree on new refineries, a uniform standard of gasoline, or fuel efficiency standards. This week, Congress browbeat the CEOs of major oil companies in the hopes of distracting our attention from the fact the politicians still have no plan. ...