"Over the next five years the energy patch should offer some of the best investments around, and one standout is Schlumberger (NYSE: SLB)," says Stephen Leeb in The Complete Investor.

"Schlumberger, by a wide margin, is the best and most dominant. Its services range from well testing to pressure pumping to seismic testing, and it's No. 1 in virtually every area it occupies.

"Some of its operations, especially those that maintain the health of existing wells, are highly recession-resistant.

"What's going on with Transocean (NYSE RIG), the owner of the world's biggest fleet of offshore drilling rigs?" asks Richard Moroney, a specialist in blue chip stocks.

In his Dow Theory Forecasts, he explains, "The shares plunged 67% - nearly $100 a share - in 2008, and we can't blame the usual suspects." Here, he explains why he continues to rate thes stock a "Focus List Buy" in his blue chip-focused advisory service.

"Poor operating performance? Wall Street expects 2008 per-share profits of $14.34, up 68%. Shaky future? Transocean is expected to grow per-share earnings 4% in 2009 and 10% annually over the next five years.

"Fundamentals eroding? Not at all. The balance sheet is sturdy and the backlog stout at $41 billion, or three times expected 2009 revenue. Rather, we see two chief contributors to Transocean's steep slide, and neither should jeopardize long-term prospects.

"When it comes to oil services, the world's most dominant company by far is Schlumberger (NYSE: SLB)," says Stephen Leeb, editor of The Complete Investor. Here, he looks at this "extraordinary" company.

"The question isn't whether inflation will worsen-it's how to protect yourself. Major and obvious lifelines we've stressed include precious metal and commodity companies, especially ones able to boost production.

"For additional inflation insurance, look to what Warren Buffett likes to call 'great companies.' These have two crucial characteristics that allow them to take inflation in stride.

"First, a great company is so dominant in its market that it can pass rising costs along to its customers. And second, it's in a market growing faster than the world's economy.