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FOX BUSINESS GUEST: Chris Versace
TOPIC-
IT MAY BE LIGHTS OUT FOR
THE WIND ENERGY GOONS
COME THE MIDTERMS NEXT WEEK
FORTUNE$ ARE BLOWING AWAY
FOX BUSINESS GUEST: Chris Versace, is a columnist for The Fox Business Network, Forbes and The Street.com. He is the editor of the PowerTrend Profits Newsletter and the Portfolio Manager of The Thematic Growth Portfolio.
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“The International Energy Agency recently cut its forecasts for oil demand growth for this year. Nevertheless, production in North America is exploding led by the shale oil boom. Already, the U.S. has become the world’s largest producer of oil and natural gas.
For energy products like oil and natural gas operating in the marketplace, this excess production means lower costs for consumers. Lower prices have their own consequences for the industry as well. Analysts at Sanford C. Bernstein & Co recently released a report revealing that current at prices as much as one-third of U.S. shale oil production will be “uneconomic” to harvest.
For government-backed industries such as wind energy, the relationship is directly the opposite — the more they produce, the more it costs ratepayers and taxpayers. Recent analysis shows that states with the largest use of wind power have the highest electricity bills. Such factors have caused private investors to largely bypass wind companies and leave them largely dependent upon the government for their survival.”
READ: http://www.foxbusiness.com/industries/2014/10/27/it-may-be-lights-out-for-wind-energy-come-midterms/
BIO: Chris Versace is a financial columnist and equity analyst with more than 20 years of experience in the investment industry. He has been ranked an All Star Analyst by Zacks Investment Research and his efforts in analyzing industries, companies and equity securities have been recognized by both Institutional Investor and Thomson Reuters’ StarMine Monitor.
WEBSITE: chrisversace.com
TWITTER: @_ChrisVersace
FOX ARCHIVE: http://www.foxbusiness.com/archive/chris-versace/index.html
Chris Versace, is a columnist for The Fox Business Network, Forbes and The Street.com. He is the editor of the PowerTrend Profits Newsletter and the Portfolio Manager of The Thematic Growth Portfolio.
Date Recorded: 11/5/2014
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