Every portfolio needs an integrated oil and gas company, but which is the most attractive among the Big Oil elite? In today's edition, Joel South argues that Chevron, which produces the cheapest barrel of oil and returns a tremendous 25% on capital employed, is king. While the financials look great, Chevron's future outlook also passes muster with a number of LNG projects in the works, including the $40-plus-billion Gorgon facility in Australia.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.