Capital City Energy (CETG.OB)
Tim Crawford's faith in what he thinks is a fundamental truth in the energy business seems to sustain him as oil and natural gas prices tumble and stock values fall.
"Everyone has to fill their gas tank and heat their home," said the CEO of Capital City Energy Group Inc. in Columbus. "Alternative (energy) will go only so far, so we're entrenched in fossil fuels. We're not getting off the stuff overnight."
It's good Crawford sees things that way, given that Capital City Energy became a publicly traded company last spring as it began a transition toward a full-service oil and natural gas operating company. Since then, oil and natural gas prices have plunged by more than half and credit markets have practically dried up for businesses with growth aspirations.
Crawford isn't sweating it. The long-range global demand for oil and natural gas and an integrated business model designed to generate revenue in good times and bad will allow Capital City Energy to move ahead, he said.
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