One of civilization's earliest inventions, pump technology has not changed much through the years. Since 200 B.C., pumps have moved water and other viscous materials from Point A to Point B. No matter the consistency of the liquid—whether it's peanut butter or oil—there is a pump that can suck, push or lift it to its destination.

The massive oil spill in the Gulf of Mexico is troubling and sad on many levels. The long-term environmental effects are unknown, but the current goal is to remove as much oil from the water as possible.

Gabelli's chief analyst for the pump industry, Jim Foung, was kind enough to share with me his candid observations and expert interpretations of the state of the pump industry for 2010.