Navellier Growth: your source for market-beating growth stocks

 

At my investment seminars that I hold around the country, I'm frequently asked about my favorite "green energy" stocks. This is an important topic for all investors, so I want to address it in this week's issue of "What's Working on Wall Street Now."

Alternative energy got a major boost this week when legendary oil man, Boone Pickens, kicked off his $58 million ad campaign to promote alternative energy. His plan–the Pickens Plan –aims to reduce our dependence on foreign oil by one-third over the next decade. Pickens' campaign is pretty ambitious, so expect to see the oil tycoon on TV as much as you'll see any presidential candidate.

Cutting Through the Alternative Energy Rhetoric

One of the major problems with alternative energy is that there's more hype than results. For example, if you think nuclear energy, wind power and solar are going to save us, all I can say is…keep dreaming!

Let me cut through some of the political posturing. First of all, Senator Barack Obama staunchly opposes nuclear energy and the expansion of offshore oil drilling. So where is more energy going to come from? If he becomes our next president, you can plan on turning off the AC in summer and wearing a sweater in the winter!

Senator John McCain wants to build more nuclear plants, but there's one little problem–that solution will take 20 to 30 years to implement! If this Republican candidate gets his way, natural gas prices will continue soaring for the immediate future. After all, natural gas is the cleanest-burning fossil fuel, making it the easiest way to comply with stricter environmental regulations. Just as we've seen new records for crude oil, we'll see a meteoric rise in the price of natural gas as demand surges.

You may ask, "Aren't there any alternatives to nuclear power or fossil fuels?" Well, yes. But these renewable sources will never come close to producing a majority of the energy we use. ...

Other recent e-letter issues:
08.28.08: Half off for Global Growth
08.21.08: How Proper Timing Brings Big Profits
08.14.08: Avoid the Bogus Bank Rally
08.07.08: China: Largest Untapped Market in the World
07.31.08: Preview of the New Emerging Growth