Capitalists Notice Alternative Energy Thanks to Oil
Rising oil prices have many downsides, especially in how they affect poor people. But they also have advantages: more efficient cars and public transportation will certainly gain popularity, and maybe even conservation. One of these advantages is that stock market gurus are taking a second look at companies that are working in the field of clean energies. That was already starting to be true in the past few years (we wrote about it here), but now with the oil shock caused by Katrina, we will probably see significant amounts of capital moving to makers of solar panels, wind turbines, fuel cell research and more. This could give a shot in the arm to the whole industry. A good example of that new found interest is the last column of James J. Cramer, writer for RealMoney: "A frightening number of companies that I would never consider, ever, as investments are now on my radar screen. [...] I feel guilty because for years I have laughed at these companies, just dismissed them out of hand because they almost all needed some big government bailout to work. Very few of these companies had any business with oil below $30. [...] You have to open your eyes to a lot of stuff that seemed illegitimate a year ago with oil where it is." We encourage our readers with money to invest to do their part.