…are all experiencing declining output. And while Brazil recently announced a second major oil find off its east coast, a field lies underwater at a depth of more than 6,500 feet and beneath an additional 9,800 feet of sand and rock, as well as a 6,500-foot-thick salt layer. This makes crude oil production very challenging and expensive.

Reason #2: Cleaner fuel, higher fuel prices

The quest for a cleaner way to consume oil is also creating a supply bottleneck. No longer is it as simple as sending oil to a refinery. The U.S. is now making "clean diesel" that is in high demand in Europe and the rest of the world, so truck drivers in the states are suffering because they have to compete with a global demand.

In turn, the U.S. continues to import gasoline from other countries that have surpluses, but thanks to Congress, our gas must then be blended with ethanol before it is transported to the pump.

The world is also suffering from the soaring cost of corn from a global food supply crunch, and that gets passed over to gasoline when the corn is turned into ethanol. The delay in processing also creates a further supply bottleneck.

Rising oil prices are just one of the many trends set to hand investors big profits. The soaring demand for food and ethanol could double your money in the next 12 months. Get details here.

Reason #3: Cashing in on crude oil

In the near future, there will be no relief for record crude oil prices. That means continued success for certain oil exploration and service companies, including many in the Blue Chip Growth portfolio.

That list includes EnCana (ECA), which has given my subscribers returns of 28% in 3 ½ months, and Monsanto (MON), which has given us returns of 285% in 3 ½ years!

Investors that listened to the naysayers may have gotten out of these oil stocks too soon and missed out on profits, but not subscribers to Blue Chip Growth! In fact, the service's entire portfolio finished 2007 up 29.8%–that's six times better than the S&P 500, which is up only 5%–earning a Top-10 performance rating by Dow Jones MarketWatch.

It's not too late to start profiting from the record cost of oil. But you must take action now if you want to get in on the ground floor of the next phase of the oil boom. Louis Navellier's Second-Quarter Oil Price Report (now posted online) will bring you all the details, along with his top 10 Oil Stocks to Buy Now. And it's yours free simply by accepting a risk-free trial to Blue Chip Growth. Don't miss out on the profits! Click here to get started.

Looking for more tips and advice on how to play rising energy costs? Check out these articles:

• Get Rich From High Oil Prices
• The Solar Play to Double Your Money This Year
• Cost of Oil Got You Down? Buy Cheaper Options!
• Drilling Deep for Oil Stocks