If the news today is an indication of things to come, the next few months are not going to be pretty. If the big boys are preparing for the worst, imagine the fear from the debt-ridden little guys.

It wasn’t long ago that Venezuelan President Hugo Chavez’s decision to nationalize state oil company Petroleos de Venezuela SA (PDVSA) resulted in a failed coup that very nearly cost him his post.

Recently, I had the unique opportunity to tour two different oil sands operations near Fort McMurray, in northern Alberta. I saw a massive open-pit oil sands mine, and the associated reclamation effort, operated by Syncrude Canada Ltd. I also visited an in situ oil sands recovery project called Surmont, operated by ConocoPhillips (NYSE:COP).

A couple of weeks ago I was in Fort McMurray, Alberta.  I was visiting two large oil sands operations, courtesy of Conoco Phillips (NYSE:COP), Syncrude Canada and the American Petroleum Institute, which sponsored the trip.  I’ve been all over the place, but never to a working oil sands operation.  This was a first for me, and quite an eye-opener.

I had the unique opportunity to tour two different oil sands operations near Fort McMurray, in northern Alberta. I saw a massive open-pit oil sands mine, and the associated reclamation effort, operated by Syncrude Canada Ltd. I also visited an in situ oil sands recovery project called Surmont, operated by ConocoPhillips (NYSE:COP).

It’s not without some sort of satisfaction that many consumers react to the news that earning reports from oil companies have been dismal. After all, these companies have been making money off us hand over fist for quite some time.

Warren Buffett’s Berkshire Hathaway Inc (NYSE:BRK.A) is finally starting to offload its 20% stake in ratings agency Moody’s Corporation (NYSE.MCO).

SmartMoney.com associate editor Jack Hough says now is a good time to pick up Buffett-favored stocks on the cheap.

Washington will almost certainly cave in to GM’s extortion. They always have and always will. So, how was the trolley ride to work today? Were you able to get a seat, or did you have to hang onto a strap?

Last year — 2008 — started out so well for the world’s energy industry. The price of oil was in the $90s and low $100s per barrel, not exorbitant.