Today on Bloomberg News I saw an oil expert suggest that it would be a good idea to buy oil stocks now. The reason is that the Democrats are going to block drilling for more oil everywhere, and they are going to try to ban hydraulic fracturing. Without hydraulic fracturing it is not economical to extract oil from the Bakken Shale or natural gas from any of the many shale fields. He also pointed out that there is a glut of natural gas in the US at present, so the natural gas companies are not a good buy. It seems to me that it is highly unlikely that Obama's alternate energy programs will produce much over the next few years, so oil is quite likely to go back up again. In particular Obama's plan to produce 2 Gigawatts of electricity from alternative sources within three years has no chance.