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The need for oil drilling services will continue even if the price of oil declines, according to Richard Lehmann. Here, in his The ETF Investor, he looks at a favorite way for investors to play this trend.

"Oil prices have a triple or quadruple price boost associated with them. The first is supply/demand dynamics, the second is the weak dollar, the third is speculative fervor and the fourth inflation fears.

"A pundit said that last year it took 65 Euros

Recap of CNBC's Fast Money, Wednesday May 21. <!---->

Oil Well Above $133

Jeff Macke said Wednesday was discouraging with less than hopeful news from the Fed and oil prices running amok on speculation rather than supply and demand. Guy Adami doesn’t think the correction is such a bad thing and would add to tech. Karen Finerman said she boosted her Citi position during the selloff. She said she will wait for a dip in retail before buying.

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Airline Stocks Grounded: AMR (AMR)

AMR dropped 24% on rising oil, and Guy Adami says airlines are so hated that they are bound to bounce at some

i'm sure at this point many speculators will see that the price of oil will either better 60, or draw back quite a bit. i'd bet that for the short term oil will correct a little and continue along it's uptrend. this will be in a concerted effort when the markets correct. i'll be looking into DVN. oil is a little overdue for a correction, i'd make a bet that it will very soon. if not, pay attention to your own disciplines!

Happy Trading,
-zrvs