Al Gore thinks the oil market is a bubble of epic proportions.
Thank you very much, Mr. Vice President. You have just given us lowly minions the buy signal of the century.
It has been my experience that when personalities like Gore or so-called experts spout off about this and that being a bubble, I know to do the opposite. It may seem counter-intuitive, but it’s not. Just think about the experts that were calling the Internet a bubble in 1995, 1996, 1997, 1998 and 1999.
My point is that even though the Internet was a bubble, it did not pop until many years after being so noted. The experts were right in calling it a bubble, but they were much too early to do so.
The profits gained by owning dot-com stocks built fortunes. The same is likely to happen in the oil space and we now have Al Gore to thank for sparking the rally.
Gore’s argument is that oil company reserves of some $7 trillion will never be fully realized. To burn those assets will destroy, the planet in his opinion. As such they cannot have the worth that the market currently assigns.
He might be right, but not any time soon.
Cheap shares, growth prospects in oil markets
If anything there is a renaissance in the oil market. Reserves are exploding with some discoveries due in part to the very global warming that concerns Gore. It’s a great time to own businesses exposed to the oil markets. Shares are cheap and the prospects of growth are secure for the near term.
Here are three names you should consider buying now that Gore has given the all-clear: