Well-known investor and CEO of Loews Corporation (L) James Tisch was on CNBC to discuss the U.S. economy, his outlook, his views on business environment, natural gas and offshore drilling. Loews has good view into the U.S. economy as they operate a portfolio of businesses ranging from offshore drilling to hotels, to insurance.
-- U.S. economy is bumping along. -- There is an inflation story that still needs to unfold. He thinks inflation is coming. -- Demand for offshore drilling is growing as demand for natural gas is improving. -- Day rates are up from $4,000 per day from couple of years ago to $6,000 per day. -- Natural gas spot prices are close to $4, way up versus where they have been. Though natural gas prices will not go beyond this as there is so much supply.
Credit and source: www.cnbc.com, CNBC
Here is the video:
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