A Natural Gas Stock That Could Clean Up

If these estimates are anywhere near correct, we're talking about a little-known but well-established company led by a much-respected energy pro that dominates a niche where growth is likely to exceed 100%. And yet it trades at a price-earnings multiple, on 2009 estimates, of just 20. That seems a bit too good to be true, but what do you expect on the fringe? You're allowed to dream a little as long as you've got a firm foundation.

Good News for T. Boone

Now if you don't already know, Pickens is by no means a flower-powered Earth child. He launched his $2.5 billion fortune as a high-profile energy company takeover maven in the 1980s and more recently has run one of the nation's most successful commodities-focused hedge funds.

Pickens has been on a crusade of sorts lately, speaking out about the decline of fossil-fuel resources -- a topic known broadly as "peak oil" -- and the desirability of natural gas as an alternative.

With production at mature oil fields from the North Sea to Mexico seriously shrinking, and the lack of any recent significant oil finds, those warnings have hit home.

Just last month, the International Energy Agency announced its belief that crude oil will undergo a supply "crunch" after 2010 as production slows among non-OPEC nations. At the same time, global demand will continue to grow.

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