Ken Heebner is Bullish on Energy

By on June 14, 2008

Ken Heebner, on CNBC yesterday, said it is a time to be positive because the global economy continues to grow. He added the biggest problem we face is rising inflation, but it doesn’t mean companies will do poorly. Heebner indicated that the Chinese economy will continue to grow for a number of years in the high single digits to low double digit rates which will put upward pressure on all types of energy. Heebner believes oil at $135 a barrel is sustainable. Heebner said he particularly likes Petrobras because its estimated reserves over the next few years will go up by a factor of 10. Heebner said he believed it will be a long time before housing prices rise. Heebner also said the U. S. economy in 2009 will be rising with the Midwest having a boom.

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