.gif){kind=logo}
Mort Zuckerman, US News & World Reports editor-in-chief, editorialized this week about the United States' energy policy, or lack thereof.Some interesting stats:
- During the last 35 years, oil imports have gone from 35% to 60% of our consumption
- Since 1988, automobile fuel efficiency has dropped
- China is firing up a new big coal-fuel generating plant every few days
- By 2030, China will have built 2,200 coal-fueled plants
- If China and India consume as much per capita quantities of oil as a wealthy country like Japan, which consumes half that of the US on a per-capita basis, global oil demand will increase from 85 million barrels per day to 170 million barrels per day.
What to do about this? Invest in it. We have cautioned since the Spring--and rightly so--to stay away from commodity shares. However, it is time to start looking at these companies again.
One stock in particular that is looking more attractive is Nabor Industries Limited (NYSE: NBR) which has corrected from $40 to $29.60. Management is supposedly getting restless about its current valuation and might be looking at a recap.
Heinz looking good after the second quarter?
Why isn't Bank of America updating its shareholders on CEO situation?
Will Rich Ross really have a positive impact on Disney's movie operations?
