Taking Full Advantage of Energy Abundance
All of this means that real energy abundance is here, it's growing and the link between oil prices and economic growth may finally be broken. The oil business won't be replaced, only its feedstocks, while the price of hydrocarbons is going to have to match the cost of getting energy from the wind or the sun, or what we can plant in the ground.
We need to get on the right side of this global trade. That means putting money into infrastructure to get current production the best price. But it also means finding a way to account for the external costs of that production in order to make sure the benefits of growing renewable abundance also come to America.
At the time of publication the author had no position in any of the stocks mentioned.
This article was written by an independent contributor, separate from TheStreet's regular news coverage.