Sea Change.

Mike Holland as guest host on CNBC Squawk Box today. He's been talking about XOM being a large holding for a while, so he's got a grip on the story.

His view: Any sell off/retreat in the oil stocks would be a gift, as you should take it as an opportunity to buy for the longer term. (Stocks he mentioned XOM, BR - note BR more of a natural gas play, but n.g. may have a big role eventually - and a couple of others I forgot.)

He is familiar with the work of Matthew Simmons, and he mentioned some of Matt's ideas: We've turned a corner, it may be a sea change, demand is very strong, it's now the supply story, Saudi Arabia appears unable to open the taps as widely as people had thought, as a result oil may no longer be a cyclical thing, "We don't have as much of the stuff as we thought." And prices may be well higher than we thought.