Oil Crisis = Wind & Solar Stock Opps
America's oil crisis should be re-branded "renewable energy opportunity," says Rob Lutts. The founder and CIO of Cabot Money Management offered CNBC wind and solar stock picks that he sees on the verge of soaring.
Wind and solar together make up a mere 0.4 percent of global power today, Lutts said. "We think [they're] going to be 10 percent over the next 10 years," he declared. "We're at the very beginning of government subisidies really changing."
So which companies are likely to gain from the climb in oil prices (putting aside Exxon Mobil and Chevron) and the government's largesse?
He recommended wind-based Gamesa -- traded in London -- referring to Boone Pickens' appearance on CNBC earlier this week, in which the legendary billionaire financier touted wind power opportunities.
Lutts praised First Solar, a "top quality name in the space" with half the group's market cap.
The CIO also likes an "alternative" take on traditional fossil-fuel use: Germany-based SGL Carbon, which makes lighter-weight transportation materials.
Disclosure information was not available for Lutts or his firm.