Wilbur Ross - Ever The Contrarian Moving Into Natural Gas - He Has a Stock Idea For You
Because it is not hard to find companies with huge natural gas resources that would make you a fortune if natural gas prices rebounded to $8 plus for an extended period.
The problem is that many of these companies are burdened with debt that they took on to acquire large natural gas acreage, and that debt is a problem with sub $4 natural gas.
A large increase in natural gas consumption in the United States would make sense. The country could move to natural gas as a transportation fuel and reduce dependence on the Middle East and help the environment.
Unfortunately I have no conviction in the idea that natural gas prices will improve, so I avoid the area as an investment opportunity.
One astute investor who is wading into is the ultimate contrarian Wilbur Ross. Specifically he now owns 10% of Exco Resources that has vast unconventional acreage.
Ross appeared on CNBC discussing natural gas and his investment:
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Wilbur Ross (Updated on 06/18/2013)