Stock prices are starting to feel a bit frothy. For perspective, the S 500 is currently valued at more than 23 times its trailing earnings, and more than 21 times this year's expected profits. That's a steep valuation by nearly any standard. It's especially steep, however, in an environment where interest rates are high. See, higher borrowing costs make growth more expensive to fund, which works against growth companies and their stocks.

What works against growth stocks often works in favor of value stocks though. And there are still plenty of reasonably priced value stocks to consider stepping into. Here's a closer look at three of the best value stocks to buy now and hold for years on end, given that interest rates are apt to remain near their current levels for the indefinite future.

If you think the world's use of oil is near its end now that consumers have access to environmentally friendlier alternatives, think again. The U.S. Energy Information Agency suggests renewable energy only accounts for about 12% of total domestic power production. The country's single-biggest source of energy remains petroleum, at 36%, while natural gas -- often extracted along with petroleum -- accounts for 32% the United States' energy usage. These numbers are in line with the rest of the world's.

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Source Fool.com