Big Moves in Alternative Energy
Many major news networks reporting on Obama’s June 23 press conference focused on what he said about Iranian elections, healthcare, and his own smoking habits. But they left out the biggest impact the administration will have on the stock market in the near future: the alternative energy bill (H.R. 2454) that will come to a vote tomorrow.
The fact that this bill even has a chance of passing is huge – let alone the gravity of support that the administration is giving it (Obama referred to it as “historic legislation”). It is designed to make clean energy profitable and reduce dependence on foreign oil, as well as create American jobs. We highlighted a few potential winning ETF’s in a post from December, 2008:
while ETFs heavily loaded with large oil companies, such as iShares Oil & Gas (IEO), could feel the pressure of an energy shift, natural gas ETFs, such as First Trust’s Revere Natural Gas Fund (FCG), could benefit from the conversion. As other clean energy alternatives are probed for viability, funds such as PowerShares WilderHill Clean Energy (PBW) could gain momentum.
We will update you once the results of the vote are known; the time to get into the alternative energy sector could be at hand.
Posted: June 25th, 2009 under Energy, Environmental Issues, Infrastructure, Obama, The First Year.
Comments: 1
Comments
Pingback from Climate Modeling Proves Global Warming | Alternative Green Energy
Time: June 26, 2009, 7:08 pm
[...] » Big Moves in Alternative Energy [...]
Write a comment