Huzzah! shale has totally screwed up the energy industry!
Well, OK, I am finally convinced. I read an article today on Bloomberg about the crash in the price of electricity, caused by the crash in the price of natural gas. This makes great sense to me, since here in Calif. we get almost 40% of our electricity from natural gas fired power plants. They are cheap and easy to build, and have no environmental problems. Thanks to oil shale and fracking, the US is about to become the natural gas king of the world, with enough supply to make ourselves self sufficient for centuries, Malthusians take note.
Therefore, I am closing my picks for energy companies and giving thumbs-down on every solar and wind stock I can find. Sorry, those of you who thought that these were the wave of the future for US energy. I always thought that the eventual solution would be something that snuck up on us inconspicuously. The future is here.