With oil touching $97 Tuesday, the clock is ticking for the U.S. to find a real alternative energy source. While Congress debates, the free market is doing their decision making for them.
Solar stocks like First Solar (FSLR) are surging on new contracts, utility giant Entergy (ETR) announced it will spin off its nuclear assets, and natural gas leader Chesapeake Energy (CHK) is jumping as investors see the fuel as a more viable, cleaner alternative than ethanol.
Aubrey McLendon, The CEO and co-founder of Chesapeake, told Fast Money that natural gas is “perfectly poised” to deliver what the country needs to alleviate its dependence on foreign oil. It’s clean, it’s affordable, it’s abundant and it’s American, McLendon said.