Let’s talk about Chevron (NYSE:CVX).
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We talked about it before, looking long term. In early March, they had an investor conference, and revealed their dividend is intact for the next few years, no matter what.
They've got the strongest upstream and downstream earnings in the business. Long term, demand will be up over the next decades. Liquids particularly, but the gas is going to be huge -- particularly liquefied natural gas.
Here's another interesting thing, we keep talking about capex being down. For the small and mid players, it's down 37%. For the large caps, 30%. For the majors, like Chevron, only down 12%.
That means when they try and turn it on, they're going to have a serious advantage. If you don't have a presence in oil, this is one of the three that I would be pounding the table on.