### Comment:
Commodities are unpredictable...  slight changes in supply or demand send their costs reeling...   Not a safe bet..   On the other hand the industry as whole is in big trouble but what is their most vulnerable link?  Will it be refineries?  Service Industries like Haliburton etc...  ?

### REPLY:
Exploration. Those guys are way over levered and pumping to service debt and hopefully gain cost efficiencies to make margin. $XOM and $CVX are finally seriously coming in to the shale plays to consolidate and leverage their economies of scale, but there's plenty of blood to come. 
  
 Would recommend taking a look at MLPs.

### END.