Each year Steven Halpern, editor of TheStockAdvisors.com, surveys the leading financial newsletter advisors asking for their favorite stocks for the coming year. This article is part of his 24th annual Top Picks Report.

Canadian Oil Sands Trust (TSX: COS) is the favorite speculative idea from from Gordon Pape, editor of Internet Wealth Builder.

The advisor notes, "It may seem strange to select a company that owns more than 36% of the Syncrude Oil Sands Project in Alberta as a speculative pick but that's where we are with Canadian energy trusts as a result of the government's October 31 announcement that they would be subject to a 31.5% tax starting in 2011.

"Most of the trusts have seen their market prices clobbered as a result, but not this one. It's actually trading above where it closed on the afternoon prior to the announcement. There are three reasons for this. First, the price of oil has risen recently. Second, there is general expectation that the trust will raise its distributions next year (the current rate is C$0.30 a quarter).

"Finally, there is the asset value. Whatever happens to COS in terms of its corporate structure in the future, it will remain one of the preeminent players in the Oil Sands. Unless you think America is going to stop running on oil sometime soon, this is a stock you want to own for both income and growth."

To see Gordon's top conservative investment idea for 2007, click here.