BlackRock’s Rice Sees Coal Stocks Doubling as Oil Nears $100
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BlackRock Inc.’s Daniel Rice, who beat 99.9 percent of U.S. stock-fund managers over the past decade, said an expanding global economy will probably push oil prices above $100 this year.
The gain may lift shares of oil and gas companies by 25 to 30 percent and help double the price of coal stocks, the manager of the $1.5 billion BlackRock Energy & Resources Fund forecast in an interview in his Boston office. His biggest concern, Rice said, is what happens if oil rises even higher.