{"id":39546,"date":"2011-01-24T15:50:16","date_gmt":"2011-01-24T20:50:16","guid":{"rendered":"http:\/\/home.bates.edu\/?p=39546"},"modified":"2018-06-04T09:22:18","modified_gmt":"2018-06-04T13:22:18","slug":"dan-rice-73-bloomberg","status":"publish","type":"post","link":"https:\/\/www.bates.edu\/news\/2011\/01\/24\/dan-rice-73-bloomberg\/","title":{"rendered":"Energy expert Dan Rice '73 tells Bloomberg that oil's close to tipping point"},"content":{"rendered":"

In extensive comments about energy resources and investing, BlackRock managing director Dan Rice ’73<\/a> tells Bloomberg Businessweek<\/a> <\/em>that an expanding global economy will probably push oil prices above $100 in 2011. While the gain may lift shares of oil and gas companies and eventually double the price of coal stocks,\u00a0Rice offers caution if oil rises much higher.<\/p>\n

“I will be bullish on the stocks for part of the next surge, but I won\u2019t be if oil gets to $120,” said Rice, who manages BlackRock’s $1.5 billion Energy and Resources Fund.<\/a><\/p>\n

\"Dan<\/a><\/p>\n

The story notes that Rice is the longest-serving manager of a U.S. energy mutual fund and that his performance over the last decade was better than 99.9 percent of all U.S. stock-fund managers.<\/p>\n

Rice said that oil may rise high enough by 2012 to trigger a global economic slowdown, much as it did in 2008 when oil reached $145 a barrel. \u201cIf the world keeps growing at this rate, it strains the whole system,\u201d said Rice.<\/p>\n

High oil prices could double the price of coal shares, “as crazy as that sounds,” he said. Discovering a way to reduce carbon emissions from coal would be a a “holy grail,” Rice adds, a breakthrough he says is more likely to come from China than the U.S. “It could mean billions and billions of profits.” View story from Bloomberg Businessweek<\/em>, Jan. 6, 2011.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In extensive comments about energy resources and investing, BlackRock managing director Dan…<\/p>\n","protected":false},"author":221,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_hide_ai_chatbot":false,"_ai_chatbot_style":"","associated_faculty":[],"_Page_Specific_Css":"","_bates_restrict_mod":false,"_table_of_contents_display":false,"_table_of_contents_location":"","_table_of_contents_disableSticky":false,"_is_featured":false,"footnotes":"","_bates_seo_meta_description":"","_bates_seo_block_robots":false,"_bates_seo_sharing_image_id":0,"_bates_seo_sharing_image_twitter_id":0,"_bates_seo_share_title":"","_bates_seo_canonical_overwrite":"","_bates_seo_twitter_template":""},"categories":[7,11009],"tags":[11051,1891,11047],"class_list":["post-39546","post","type-post","status-publish","format-standard","hentry","category-alumni","category-the-college","tag-bates-in-the-news","tag-business","tag-finance"],"_links":{"self":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/39546","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/users\/221"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/comments?post=39546"}],"version-history":[{"count":2,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/39546\/revisions"}],"predecessor-version":[{"id":87140,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/posts\/39546\/revisions\/87140"}],"wp:attachment":[{"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/media?parent=39546"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/categories?post=39546"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bates.edu\/news\/wp-json\/wp\/v2\/tags?post=39546"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}