Guinness: Energy stocks have 50% upside over next three years

Energy stocks could see up to 50% upside over the next three years, according to Guinness Asset Management's Tim Guinness, supported by the high price of oil.

Although the chairman and CIO of the firm said the oil price could fall below $80 a barrel temporarily, he said it will move back up to trade between $80 and $100. "We see oil staying high as the fundamentals are surprisingly positive. Everybody is focusing on the fact that oil demand in the developed world is flat to slightly down, but it continues to be strong in the emerging world where it is growing at a pace of one to two million barrels per day. "There is no evidence that non-OPEC supply can meet this demand, and this puts OPEC in the very strong position to support the price in...