5 Green Stocks to Buy Now

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Oil prices are shooting higher again. Did we not learn our lesson last summer when oil touched $150 per barrel?

It would appear not. Speculation in crude is running rampant. As a result the price per barrel has nearly doubled this year to more than $70 per barrel.

There is no recession here. The oil markets are betting on a global recovery that will spur demand for a resource with limited supply. Prices over time are heading in one direction, and that is higher.

In addition to the typical winners in a rising oil price market, the impact on the alternative energy sector will be equally bullish. At the same time, we have an administration that is determined to greenify our entire economy and wean ourselves off our addiction on foreign crude.

Put a friendly administration together with high oil prices, and alternative energy stocks are set to rocket higher. With momentum being a key ingredient for performance, these stocks will have little trouble attracting attention.

The race is on and there are many good stocks now in the green space. Investors can find options in solar, wind power and hybrid technology. There are many aspects to alternative energy and plenty of businesses looking to profit from a move to green.

With my proprietary portfolio grader, I perused the entire green space to find stocks that rate buy or higher.

Here are five stocks that fit that definition...

NEXT: A-Power Generation Systems, Ltd. (APWR)