H&W in the Media
These U.S. oil producers have the most to lose
Kevin Mahn, chief investment officer for Hennion & Walsh Asset Management, said on Monday that the long-term prospects for the U.S. shale-oil industry are still good as the nation “will be energy independent within 10 years.” He said oil prices were unlikely to stay low enough long enough to make much shale production unprofitable.
As a result, Mahn sees this as an “attractive entry point” for long-term investors interested in buying beaten-down oil companies. Still, he cautions that “it could get more attractive” as stock prices extend their declines.
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