Dr. Robert Hirsch, senior advisor, Management Information Services Inc came today on CNBC with a $500 price tag for Oil. Here is the summary:
* Oil to reach $500 in the next 3 to 5 years.
* Oil production has reached a plateau and not much oil out there.
* Economists don't understand we are limited by geology. Harder to get oil out of the ground.
* Just to match demand, every year we need to produce NEW 3 to 4 million barrels. This needs to be done every year and it will get worse and worse.
* We need alternate liquid fuels and big push on conservation.
*Coal is a good alternative liquid fuel (That means keep adding coal stocks).
*But political push back in using coal.
CNBC video link here:
Some good coal stocks- Check their YTD performances
FDG - Fording Canadian Coal Trust
MEE - Massey Energy Company
JRCC - James River Coal Company
ACI - Arch Coal, Inc
BTU - Peabody Energy Corporation
FOMC Projections
4 hours ago
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