Monday, January 30, 2006
Motley Fuel
For years alternate energy sources - solar, wind, hydrogen fuel cells, etc. - have been hyped as an answer to our growing dependence on foreign oil. With the tension in the Middle East - especially the Iranian threat - that dependence has become a major thorn in our sides and in our wallets.
Bush talked the talk on alternate fuels in his first year in office, but didn't put much money behind his mouth. Now he's set to talk the talk again in his upcoming State of the Union Address. Let's hope this time he walks the walk - and puts some serious money where his mouth is. I sincerely believe that if Bush issued a challenge to become less dependent on foreign oil by 50% by the end of the decade (like Kennedy challenged us to land a man on the moon by the end of the 60's), the American spirit of entrepreneurship and ingenuity would kick in and it would be done.
Someone needs to setup an "FPrize" modeled after the X-Prize (privately funded space race) or the MPrize (aging research). Award big dollars to innovators in alternate fuel research. Private industry and the free-market can get the job done and fast if its financially rewarding via prizes, tax credits, etc. Bush could start the ball rolling - but will he?
There'd be no revenge quite as sweet as taking away a mullah's cash cow. The middle-eastern oil rich dictatorships would crawl back in their shacks and caves, unable to fund the Islamo-fascism as it does now.
I just looked at my portfolio and my alternate energy stocks (I hold several hydrogen fuel cell stocks and one solar energy stock) are skyrocketing today. While these stock are typically very volatile, I can't help but believe that the trend over the next several years will be up, up, up. (But please, do your own due diligence before buying any stock).
Bush talked the talk on alternate fuels in his first year in office, but didn't put much money behind his mouth. Now he's set to talk the talk again in his upcoming State of the Union Address. Let's hope this time he walks the walk - and puts some serious money where his mouth is. I sincerely believe that if Bush issued a challenge to become less dependent on foreign oil by 50% by the end of the decade (like Kennedy challenged us to land a man on the moon by the end of the 60's), the American spirit of entrepreneurship and ingenuity would kick in and it would be done.
Someone needs to setup an "FPrize" modeled after the X-Prize (privately funded space race) or the MPrize (aging research). Award big dollars to innovators in alternate fuel research. Private industry and the free-market can get the job done and fast if its financially rewarding via prizes, tax credits, etc. Bush could start the ball rolling - but will he?
There'd be no revenge quite as sweet as taking away a mullah's cash cow. The middle-eastern oil rich dictatorships would crawl back in their shacks and caves, unable to fund the Islamo-fascism as it does now.
I just looked at my portfolio and my alternate energy stocks (I hold several hydrogen fuel cell stocks and one solar energy stock) are skyrocketing today. While these stock are typically very volatile, I can't help but believe that the trend over the next several years will be up, up, up. (But please, do your own due diligence before buying any stock).
