Energy Commentary from Karl Miller - Read Bio and More info
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August 17, 2010 (Investorideas.com energy newswire) - www.InvestorIdeas.com, a leading investor research portal updates investors with a market update and previous commentary from Senior Energy Executive Karl Miller on the current status of the US Energy Industry.
Energy stocks he discussed as part of his model energy portfolio included: ANADARKO PETROLEUM: NYSE, APACHE CORP: NYSE, CHESAPEAKE ENERGY CORP: NYSE, CHEVRON CORPORATION: NYSE, DEVON ENERGY CORP: NYSE, EL PASO CORP: NYSE, EOG RESOURCES INC: NYSE, EXXON MOBIL CORP: NYSE, MARATHON OIL CORP: NYSE MCDERMOTT INTERNATIONAL INC: NYSE, OCCIDENTAL PETROLEUM: NYSE, WILLIAMS COMPANIES INC: NYSE and XTO ENERGY INC: NYSE
See the full article: Still Time to Buy Energy Stocks? Investorideas.com Energy Expert says "Yes" at http://www.naturalgasstocks.com/Karl_Miller/news/5111.asp
On May 17, 2010 Mr. Miller followed up his buy opinion during tremendous market turmoil with a bold and substantial market call that the smart money would start buying energy stocks in the second quarter, which would be followed by the rest of the hedge fund, heard trying to play catch up, once the smart money deployed.
As we have come to expect, Mr. Miller made the correct call. On August 16, 2010 Reuters reported that hedge fund managers including billionaire Carl Icahn, Eric Mindich, Dinakar Singh, David Einhorn, former Fidelity Investments star Jeff Vinik and the $22 billion Boston-based fund Adage Capital and others all did what Mr. Miller predicted, they went bargain hunting during the second quarter, as reported in public filings.
They added many of the energy names Mr. Miller recommended on May 11, 2010 including Exxon, Marathon Oil, Anadarko, and Chesapeake Energy among other energy companies to their overall portfolio holdings.
See the full article: http://www.cnbc.com/id/38729393
In speaking with Mr. Miller this morning, he believes the Oil and Natural Gas sector remains extremely cheap relative to asset values and continues to maintain a buy opinion on the combined sector.
Mr. Miller added that the substantial pressure mounting on the Renewable Energy industry, which is entirely reliant upon federal tax credits and State Renewable Energy Credits and artificial mandates, is making the spread trade between the Oil and Natural Gas companies and the renewable energy companies extremely attractive.
While Mr. Miller is a strong supporter of sustainable and economical renewable energy, which can produce positive cash flow and rates of return without Federal and State subsidies, the market simply can't ignore the trade to put on at the current time is "short renewable energy companies and buy Oil and Natural Gas companies", especially going into the November elections.
Mr. Miller added, "you just can't ignore the fact that with Natural Gas currently below $6/mmbtu and Crude Oil trading in a range between $70-80/bbl, a fragmented electricity transmission grid in the US, the tremendous Federal and State fiscal deficits and a dead on arrival Cap and Trade Bill, the Renewable Energy Industry in the US is in for an extremely rough ride and I expect substantial distress to be forthcoming in that industry.
There will be value, but it has just been too much, too fast in a market environment and industry structure that simply can't support the economics of the renewable industry as a whole right now.
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Energy Commentary from Karl Miller is the opinion of Karl Miller. Content found in the articles is subject to the terms found in the InvestorIdeas.com disclaimer and does not represent a recommendation of investment advice by Mr. Miller. Investors should seek the advice of a qualified investment professional prior to making any investment decisions.
Source - Investorideas.com
Disclosure: Long Energy Companies