NEW YORK (TheStreet) -- I was speaking with Brittany Umar about the announcement of the new Federal Reserve chairman, Janet Yellen, and what it might mean for oil.

Yellen is perceived to be the most dovish candidate available to follow Ben Bernanke into the role of Fed chair. Most analysts expect her to not only continue the accommodative policies the Fed has been applying into the monetary markets, but perhaps to be even more aggressive with further bond purchases or even more "dark science" methods to keeping interest rates unusually low.

I have felt that the accommodative, "money-printing" activity of the Federal Reserve has been a factor, if not the strongest factor, in the rise in prices of what we like to call "risk assets" over the last four years.

Oil has been correctly identified as one of these risk assets, although I do believe that Fed activity has been less of a factor in its stellar recovery since the financial crisis of 2008. Much more important to me has been the desire for investment in hard assets as well as the slow but steady recovery in our economy and that of the emerging markets.

Still, the Yellen appointment should be a driver of shifting yet more money into oil as an investment diversifier. The more the new Fed chairman accommodates monetary policy, the broader that shift will be.

That should make the domestic oil companies that rely upon crude pricing for profitability to continue to shine going into 2014. Many of these names have already done well for 2013, but will be bolstered further by the Yellen appointment -- names including EOG Resources ( EOG), Anadarko ( APC) and Devon Energy ( DVN).

I talk more about the Yellen appointment and oil with Brittany in the video above.

At the time of publication the author had a position in APC.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

Dan Dicker has been a floor trader at the New York Mercantile Exchange with more than 25 years of oil trading experience. He is a licensed commodities trade adviser.

 

Dan is currently President of MercBloc LLC, a wealth management firm and is the author of "Oil's Endless Bid," published in March of 2011 by John Wiley and Sons.

 

Dan Dicker has appeared as an energy analyst since 2002 with all the major financial news networks. He has lent his expertise in hundreds of live radio and television broadcasts on CNBC, Bloomberg US and UK and CNNfn.

 

Dan obtained a bachelor of arts degree from the State University of New York at Stony Brook in 1982.

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