Oil’s Largest One Day Dollar Increase Ever!
Oil increased over $10.50 a barrel on friday, just after a $5 increase the day before. The two day total of over $15.50 will be seen very shortly at the gas pumps as prices continue to hurt the consumer. The oil turmoil over the high energy costs has fueled high speculation in solar stocks. First Solar (ticker FSLR) has a high this year over $300/share with expected earnings of less than $3/share. Next year it’s earnings are expected around $5.75/share. With price to earnings ratios of $50 - $100/share, you have to wonder if there is a hugh bubble starting to form in the Solar stocks. Will the solar stocks in 2008 be the internet stocks of 2000?
Tags: Bubble, Consumers, Energy Costs, First Solar, Fuel Costs, Oil Prices, Solar Stocks
