The Saudis are in trouble. The Kingdom is burning through its cash reserves to pay its bills and to prop up oil prices. They want $10 billion from an international consortium of banks. They will get it, but it is a cortisone shot for a ruptured disk – lower oil prices are a long-term problem.
- This year, solar energy prices in India dropped to around parity with coal for the first time ever, hitting 4.34 rupees (about 6 US cents) a kilowatt-hour (kWh),
Coal is not oil, but they have the same ruptured disk – renewables are coming faster than anyone thought just five years ago. Carbon fuel is so 20th century. Electricity and hydrogen are what will drive the engines tomorrow, not ten years from now.
Anyway, oil, coal, no matter. Solar stocks look prime right now, especially with the SunEdison bankruptcy dragging the industry’s image through the mud. People will run thinking a profitable solar industry is still pie-in-the-sky. Well, the circle in the sky is not pie, and it will produce more than energy soon enough. Check out Solar City’s (SCTY) one-year chart, for example.
- The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973.
- General Motors on Thursday reported higher-than-expected quarterly earnings, citing strong results in North America and an improved performance in Europe.
The market trending up will bring the money out. Solar City is not the only viable opportunity out there. If the market breaks through historical highs …