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A Middle East money insider reveals who's getting rich off $100 oil & where they'll spend the money.
Hedge fund and private equity consultant John D'Agostino joins the panel for this conversation. He’s also the author of “Rigged: The True Story of an Ivy League Kid Who Changed the World of Oil, from Wall Street to Dubai.” Following is a synopsis of his main points.
Alternative Energy
The next wave of oil wealth will go probably go into alternative energy, says D’Agostino. Middle East investors are comfortable with longer time frames and can weather the volatility of this sector. Specifically, solar & wind names are most likely to benefit. In fact, I helped facilitate 3 deals between Abu Dhabi and alternative energy companies recently.
Tim Seymour agrees. As far as I can tell, the Middle East is investing for the long term.
High Price Of Oil
Crude prices might not recede anytime soon, D’Agostino reveals. The conventional wisdom right now is that oil is on a speculative run above $100 and headed lower after this blow-off.
I’m not so sure, he says. I think there could be long term fundamental problems with the refinery complex and if I’m right, oil will remain high. In fact, I say, if you stand in front of oil you could be standing in front of a runaway train.
Read More:
> Learn what John D’Agostino said the last time he was on “Fast Money” in “Follow The Oil Wealth.”
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Trader disclosure: On Feb.20, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (HAS), (YHOO), (ATVI); Finerman Owns (GS); Fineman's Firm And Finerman Own (KALU); Finerman's Firm Owns (MSFT), (TSO), (VLO), (YHOO), (AAPL); Finerman's Firm Is Short (IYR), (IJR), (MDY), (SPY), (IWM),(COF); Finerman's Firm And Finerman Own (CROX) And (CROX) Options; Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Seymour Owns (AAPL), (MER), (MSFT), (S), (TSL); Seygem Asset Management Owns Gazprom OAO; Seygem Asset Management Owns (NIHD), (GFI); Seygem Asset Management Owns Lebedyanskiy OAO; Seygem Asset Management Is Short (EEM)
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