Energy Appears to Be The Number 1 Story on CNBC Today

As noted in the subject line.

Talking heads are stating the obvious: buy companies that are overweighted in oil, underweighted in natural gas.

It seems these folks are a bit late to the party.

One talking head just noted that Hess domestic mix is 96% oil; 4% natural gas. I don't accumulate shares in Hess, but it's a nice company for long term investors with conservative bent. Hess is down today; not sure why. It did not hike its dividend.

For newbies, a couple of points regarding natural gas: a) "they" wouldn't keep drilling if they couldn't make money on natural gas; b) "they" say they can make money on natural gas down to $2.50 or $3.00; and, c) some of the Bakken companies have hedged natural gas with contracts in excess of $6.00.

A couple of additional points: a) it's just a matter of time before federal government gets behind natural gas; and, b) more and more coal-fueled power plants are switching to natural gas, rather than retro-fit their coal-fueled plants to meet environmental regulations.