Who is Genie Energy (GNE)?

I never heard of this company until I read this post on Martin Armstrong’s blog.

Stock is currently at ~$7.50 and the market cap is ~$185M.

Interestingly enough, they just reported earnings today and posted a profit of $3.4M on $69.4M in revenues.

They’ve not posted an annual profit in last 3 years, but they were cash flow positive last year. Are we at a turning point?

The more interesting aspect of this company, though, is the Advisory board. Dick Cheney, Larry Summers, Rupert Murdoch, amongst other dignitaries. Wow, that is a politically heavy hitting roster. Wikipedia expands further on this.

Supposedly this company is sitting on a reserve bigger than Saudi Arabia! And this is the reason for the hoopla in Syria around the pipeline dispute and regime change.

This is seemingly a deep state company?

At $185M market cap, seemingly at a profitability turning point and sitting on a huge oil reserve, government ties…  Hmmm, might have to dip the toe in.