Industries to Watch

Mike Norman
You can’t turn on a TV set or walk past a newsstand without hearing about the soaring price of oil, right? And even if you don’t read or watch the boob tube (with the exception of FOX News Channel, that is), you cringe every time you fill up at the pump.

So if you’re like other "Cost of Freedom" watchers you’re probably thinking, “Which industries are most affected by oil and gas trends and should I be buying them or selling them?”

Tune in to "The Cost of Freedom" business block, Saturday at 10am ET and Monday at 4am ET, to hear what the "Forbes on FOX" experts have to say about how oil prices affect your money, the stock market, and the economy.

For likely direction of the petroleum markets refer to my buddy Scott Bleier’s column right next to mine. As for which industries get affected, how about the oil and gas industry for starters, as well as chemicals, synthetics and basic materials?

Companies in the oil and gas industry have seen huge appreciation over the past two years as the price of crude has doubled. And despite these gains many of these businesses will still be raking in the bucks for a long time because of strong demand for refined fuels.

On the other hand, if you think oil is peaking you may want to take a look at the chemical, synthetics and basic materials industries. Their performance has been held back or hurt by rising oil prices. Any turnaround in the trend in oil will see big returns for companies in these sectors and for investors.

This weekend our Business Block has much more on the price of oil. Tune in Saturday at 10am ET and Monday at 4am ET.

Mike Norman is the founder and publisher of the Economic Contrarian Update and a frequent guest on the Business Block.