Forget the Oil Majors, Think Picks and Shovels
When people hear “oil revival,” they instinctively think of the giants, Exxon, Chevron, and the like. And yes, they would certainly be involved. They have the deep pockets and the political clout. But to me, that’s the obvious, and frankly, rather boring play. The real money in a gold rush is rarely made by the prospectors. It’s made by the folks selling the picks, shovels, and sturdy trousers. In this case, the modern equivalent is the oilfield services companies. These are the firms with the engineers, the drilling rigs, and the technical know-how to actually do the hard graft. They would be the first ones in and the first to get paid, rebuilding everything from the wellhead to the export terminal.