Alternative-energy stocks may be running out of gas, says Jerry Castellini of CastleArk Management.
He told CNBC that the recent plunge in crude oil prices — and the smaller decline in gasoline prices — has removed much of the motivation to identify and develop "green" and renewable energy sources.
"They really needed $100 a barrel [oil] to make the economic case for these transitional technologies," he said.
Therefore, Castellini said, the smart money should be considering "traditional energy companies" — despite lower crude prices.
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Top Alternative Energy Stocks:
Wind:
Trinity Industries
Otter Tail
Tetra Tech
Solar:
First Solar
Evergreen Solar
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Disclosures:
Disclosure information was not available for Castellini or for his company.