Tulis oversaw electric power and natural gas research at Lehman Brothers, among other firms.

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Tulis, 66, has been covering the sector ever since the first OPEC embargo 31 years ago.

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If not stock traders, at least oil traders are expecting a future close to the one Tulis envisions.

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During President Jimmy Carter's term, Tulis recalls, natural gas prices were inflated because the Administration predicted severe shortages and even mandated that gas be restricted to home heating and cooking.

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From such expectations Tulis reasons that oil and gas stocks are undervalued, along with stocks throughout what he calls the "energy chain, " which starts with exploration and production and ends with power transmission.

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Energy savant Daniel Tulis has a different view.

FORBES: Grab the Energy Chain