Offshore Nambia is quickly becoming one of the world’s greatest frontier oil provinces.

In late January, Exxon Mobil Corp. (NYSE: XOM), the world’s most ubiquitous oil giant, capped off a whipsaw year in the global oil markets by reporting net income of $45.2 billion, an all-time record for corporate profits that shattered the former record it had set a year before.

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.

Every once in a while, we stumble upon a chart or table that says it all…

Madoff Gets 150 Years; Pipeline Operators to Combine; Jobs Returns to Work at Apple; GM, Toyota Cut Ties on Auto Plant; U.S. Moves Closer to Solar Energy; Oil Rises to More Than $71; China Stops Stockpiling Metal

In the energy market on Thursday, crude for August delivery was higher, closing at $70.23/barrel, up $1.56. July reformulated gasoline rose 5.58 cents, to $1.8983/gallon.

In the energy market on Monday, crude for July delivery plummeted on its last day as the front-month contract, closing at $66.93/barrel, down $2.62. July reformulated gasoline dropped 6.47 cents, to $1.8597/gallon.

Brazil is making a national commitment to develop energy resources located far offshore in the South Atlantic. Indeed, no nation has ever advanced such an ambitious plan for long-term comprehensive offshore development. And it’s being bankrolled by China.

Last year, oil prices went crazy. In a matter of weeks, oil shot up as high as $147 and came right back down. Today, oil is sneaking back up. The obvious temptation is to try and time it again. The smart money, however, is looking elsewhere to take advantage. We found the perfect penny play to do just that…