Trickle of Drilling Activity Won't Maroon Oil By Jim Cramer About this article: Something's changed in the last few weeks. I am beginning to see companies drill for oil again! I'm not kidding. Everyone today will be focused on Exxon's annual meeting. That's too bad, and a false tell. Exxon remains a non-believer in the higher prices. But I am seeing Shell, Statoil and Norsk Hydro plow back money into the ground at last. Better than nothing. Here's the way I see energy. Everything's been bullish for higher prices in the last few weeks: Iran's nuttiness; Venezuela's prevailing over Ecuador to kick out Occidental; the lack of any new pumping in Iraq; Nigeria's rebels effectively cutting back supply, although we are now getting a little bit more on line. More importantly, though, I have not seen much more drilling activity than we had when oil was much lower. I can't say we have seen any sort of sea change. But some new... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

If you choose a 14-day free trial of RealMoney and you do NOT call to cancel within those 14 days, you will pay $129.95 — a $100 savings off the regular annual subscription price of $229.95. Unless you cancel before the end of that year, your subscription will automatically renew for another year at the then-current subscription price.

Offer applies only to new annual subscriptions, and is subject to change at any time. Void where prohibited.

If you choose a monthly subscription, you pay $34.95 per month. You will be notified if the current monthly rate of $34.95 changes at any time in the future.

TheStreet.com is a publisher. None of the contributors or their affiliates will provide you with personally tailored advice concerning the nature, potential, value or suitability of any particular security, portfolio of securities, transaction, investment strategy or other matter. From time to time, any or all of the contributors or their affiliates may hold positions in securities mentioned and they may trade for their own accounts. In cases where the position is held at the time of publication, appropriate disclosure is made.

© TheStreet.com, Inc., 14 Wall Street, 15th Floor, New York, NY 10005.