Flip “The Bird” At Big Oil

| June 8, 2010 | 0 Comments

The oil spill in the Gulf of Mexico is just disgusting.  The environmental damage being done is unfathomable… and the economic destruction will be even worse.

You can’t escape the news.

The shorelines of the coast are being blackened.  Birds are coated from head to toe in the sludgy oil.  And who knows what’s happening to the aquatic life…

Sadly, we’ll be dealing with the fallout from this disaster for at least a decade.  And it might be longer if they can’t get a handle on this oil well run amuck.

BP is caught in the mother of all firestorms.

Everyone from congressional leaders to soccer moms is calling for the company CEO to step down.  Analysts are voicing opinions over the payment of dividends.  Lawyers are licking their lips in anticipation of big settlements.

It’s like a pack of hyenas circling a wounded zebra… it’s about to get even uglier.

right now I don’t care.

I just want them to stop the leak and clean up the mess.

There’s lots of public anger brewing from this mess.  I wish our leaders in government were smart enough to channel all of this public outrage in a good way.

One way would be to drive support for alternative energy technologies.

Seriously.  Anyone thinking about the long term quickly realizes we need to wean ourselves from dependency on oil.  Like an obese person addicted to sugar, America is addicted to oil.  And that addiction is not going to be easy to break.

But now’s a perfect time to take the first step.

Here’s my thought.  Instead of channeling all of the tax revenue from oil companies into the government coffers, let’s divert it.  Our congressional leaders have proven inept enough at spending other people’s money.  So let’s find a better way… instead of spending those tax dollars on bank bailouts, let’s support the next generation of energy production.

Don’t fight over offshore drilling.  Focus on funding new energy devices.

Now realize, I’m in no way advocating more taxes.  We pay enough already.  I’m simply calling for a better use of the taxes already collected.

We could support a cleaner, safer, more efficient nuclear reactor.

Or, maybe a better focus on geothermal energy production… or solar.

Or just maybe it means focusing on energy efficiency.

If you ask me, the US can’t focus enough on energy independence.  We need to get away from pollution-heavy fossil fuels.  We need to develop new clean energy technologies.  It’s the only way we can continue our quality of life… without destroying the environment.

I’ve seen enough alternative energy technology to know it’s possible.

All it takes is a solid commitment from government and industry to make it reality.  One of my favorite ways to play the alternative energy market is investing in industry leading companies.

Take for example Ormat Technologies (ORA).

Ormat was recently on a list of companies trading at or near a 52-week low.  This makes no sense.  Their geothermal technology has a solid future in the production of energy.  It looks like the company – who’s leadership is based out of Israel – may have been sold off because of recent Israeli military action.

This is an opportunity.

The company is a leader in the global development of geothermal energy. It’s about as green as you can get.  Geothermal is the use of the heat found in the earth to produce electricity.  Does it get any greener?

In the next 10 years, I can see this technology becoming even more widespread… and Ormat will be the company of choice to provide it.

I like Ormat… and I think it’s a great way to “flip the bird” at big oil companies who are destroying our planet.

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Category: Commodities

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The Dynamic Wealth Report works with a number of staff writers and guest experts who specialize in everything from penny stocks to ETFs to options trading. These guest analysts post under the 'staff writer' moniker for ease of use.

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