Short of Hannah Montana tickets, potash has to be the year's hottest item.
Into this manic milieu steps U.S. producer Intrepid Potash
As an oil and gas guy, two things immediately grabbed my attention about Intrepid. First, agriculture accounted for only 64% of potash sales last year. A major additional market is oil and gas drilling. No, Halliburton's
The other interesting thing is that Intrepid adopted horizontal drilling technology from the energy industry to enhance production at its first mine, a formerly flagging Utah-based operation scooped up from Potash Corp. of Saskatchewan
In addition to potash, Intrepid mines something called langbeinite at its Carlsbad, N.M., mine. Mosaic
Finally, I can't part without a word on valuation. This isn't going to be much of a surprise, but you've got to leave this one to the momentum crowd, Fools. I have no doubt that this company is going to kick butt for years -- but I'd argue that that is all priced into the stock today. Stay away, and in exchange, I'll try to find you a stealthier ag play.