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| Oil Services: Could Be Growth Industry for Next Year |
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| Written by Miranda Marquit | |
| Monday, 24 December 2007 | |
 Photo:stshores24, Creative Commons, Flickr Oil services could be a big sector for 2008. One of the hardest things about environmentally friendly investing is that it's hard to ignore the fact that Big Oil companies like Exxon (XOM) that do not invest in renewable energy sources make money. And lots of it. And in the coming year, one of the growing sectors is expected to be the oil services industry. Cattle Network reports on oil services: Oil prices fluctuate from day to day but oil-exploration capital budgets don't, and Big Oil plans to spend big bucks next year. According to the recent Lehman Brothers annual exploration and production spending survey, worldwide E&P spending should rise by more than 11% to $369 billion in 2008. That means lots of work for the oil- services firms that produce seismic data; well testing and completion; pressure pumping; rig supply; and myriad other complicated work that goes into an oil well. Environmentally friendly investing, when it comes to Big Oil, is a delicate thing. Companies like Chevron (CVX) have additional investments in renewable energy, and some, like Statoil (STO) are even trying to work toward carbon neutrality. So it is possible to look into Big Oil and feel okay about investing. And, of course, everyone's enjoying a little Christmas cheer on the stock market (XOM is back above $93 a share) right now. If you make the right investments, that cheer could last into next year. Disclosure: I do not own Big Oil related stock. I am considering STO. Site disclaimer. Big Oil 
CVX 
Miranda Marquit 
STO 
XOM 
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written by Thomas Chenoweth , January 03, 2008
Oil Services = OIH, good etf
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