To: TobagoJack who wrote (59895 ) 5/8/2006 2:24:59 AM From: 8bits Respond to of 110194 .". i was referring to the legions who work in Sinopec, Sinochem, CNOOC and Petro China uniforms, in Chad, Sudan, Nigeria, Iran, Syria, Venezuela, Ecuador, etc i trust they all report to the same guy up different chains of command, and i figure the oil investments are with the good hands people :0) i believe the 4 state oil companies will be gaining on the western majors as far as oil reserves in shaky territory are concerned, given the state backing in finance and personnel. Sell Exxon Mobile, sell Royal Dutch, along with BP that pays Maurice a pension, but buy Gazprom, Lukoil, Sino this and Sino that. The nature of the game is changing, and fast. The USA government wants to help China, as - Bush stops filling USA strategic reserve just as China starts filling its tanks - Congress wants to breakup Big Oil so that they are hobbled in their global competition against the state oil companies of China, India, Russia, etc Altruism, there is nothing like it :0)" "Big oil" to some degree is under the gun but as long as Bush/Cheney are in power I don't see a windfall profits tax happening. Amazing how congress and the general public are basically 30 years out of date as to what is going on in the oil markets. (And movies like Syrianna don't help..) I have mostly focused on US and Canadian (Especially Canadian) Small/Midcaps. Most of their assets are in stable places in the world and their growth has been much better than the BPs, Exxons, Shells, and Chevrons. I did have some SNP (Sinopec) but had sold covered calls which were exercised. May (Probably, hoping for that fall in oil stock prices again.. grrr..) buy back in again. Their refinery assets are worth a mint especially if China deregulates the internal Oil/Gasoline markets further. Lukoil and Gazprom... not so sure, they have definitely had huge runs and may run further (and most importantly they have the political backing of Mr. Putin) but it seems as if any time there is a need for cash in the Russian main government these companies are called upon. Overall I feel more secure with the Huskys, CNQs, Nexens, Encanas, Apaches, Andarkos of the world than the byzantine finances of companies which are to some degree national extensions of their respective countries. I think China is more inclined to give free reign than Russia I am inclined myself to reinvest in one of Chinese oil ADRs. Thanks for the input. As a comparison:finance.yahoo.com No doubt the large Chinese companies stocks are kicking the tail out of the large cap US stocks:finance.yahoo.com While we are at it: Oops he (Chavez)did it againforbes.com