There are no fundamental or sustainable drivers to move the oil and natural gas commodity complex or renewable energy companies forward.

Mr. Miller has repeatedly made it clear that there will be no meaningful economic recovery in the U.S. until the defunct real estate loans in the residential and commercial marketplace are properly vetted, written down to net realizable value, and sold off of the banks, hedge funds and insurance company books.

This will require the FDIC and government regulators to substantially increase the speed in foreclosing on hundreds of banks and other financial institutions, which are technically insolvent.

Mr. Miller has consistently warned that an economic recovery based upon the U.S. negative net worth, and the US Treasury underwriting the retail consumer and institutional marketplace, including attempting to implement an unrealistic renewable energy and carbon emission plan is not feasible.

The United States does not have sufficient energy infrastructure to include Transmission lines, natural gas and oil pipelines and a majority of financial institutions are not capable or are restricted from purchasing and operating critical energy infrastructure assets so desperately needed.

Seasoned energy management teams can't begin the true work of developing and restructuring realistic energy infrastructure assets until the financial system is flushed by the regulators. This task restructuring is best left to true distressed asset buyers and asset managers working with the FDIC and regulators who know how to clean up what has become the largest financial and asset disaster in U.S. history.

Mr. Miller continues to warn that retail and high net worth investors should not be investing in the equity and debt markets at the current time, while the major banks, hedge funds, and private equity funds are holding massive portfolio's of insolvent investments and not liquid on a majority of their asset based holdings.

There is simply too much financial risk for the retail investor to manage and the sidelines are the safest place right now.

About Mr. Miller:

Mr. Miller is a globally recognized energy executive and institutional investor with a balance of both financial and energy sector expertise. Mr. Miller began his career on Wall Street during the 1980's and has an extensive background in banking, commodities trading and risk management.

Mr. Miller has a long history in the global energy business and has held a variety of executive management positions both within the United States, Europe and Asia. Mr. Miller has bid on over $25 billion in energy related assets during his career.

Mr. Miller has built, restructured and managed energy businesses for major public energy companies on several continents, including PG&E Corporation, Electricite de France, El Paso Energy, Enron Corporation and JPMorgan Chase.

Mr. Miller holds an MBA in Finance from the Kenan-Flagler Business School at The University of North Carolina, Chapel Hill. Mr. Miller also holds a B.A. in Accounting from Catholic University located in Washington DC.

Mr. Miller is currently on medical leave until late 2009.

SOURCE VBCC

Originally published by VBCC.

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