I bailed on USO due to the contango issue that causes it to under perform vs. the spot price. If/when we get into a nasty recession and it drops back down to $70/80 a barrel I might pick it up again.
you are the media you consume.
I made my own little big oil "index fund" by including pretty much equal amounts of Exxon, Chevron, Total, Conoco and Shell. Well, a little extra of Exxon. And none of the British "we can't even spell maintenance" Petroleum idiocy.
Haven't got enough money to include lots of smaller companies like Andarko and Talisman, even if those probably have a brighter future than the supermajors.
With the giant size of the companies and the inherent diversification of integrated big oil, the company risk goes away a bit. Peak oil is not an energy crisis. It is a liquid fuel crisis.
