Lately you've seen plenty of these oil drillers and development companies in my watchlists. If you've been paying attention, that is. These stocks include HP, NGAS, ATW, PTEN, UNT, WLL, CLR, ESV, etc. The reason is obvious...the are en fuego.

Today Bush urged Congress to lift the ban on offshore drilling. We'll see how it plays out, but here are a few more patterns to keep an eye on in this space...and a few "spec" plays.