“Despite what the clean-tech people will tell you, if crude oil goes down, the price of anything related to alternative energy comes down with it. Most don’t stand on their own feet without high energy prices, or without government tax benefits.”
Here's the story:
"Every area has momentum right now," said Dan Pullman, vice president at investment bank McNamee Lawrence & Co. "You see it solar, you see it wind, alternative transportation, fuels, and plug-in vehicles."
Michael Carboy, clean energy analyst at Signal Hill, said the health of the sector has little to do with week-to-week market fluctuations in equity prices.
"The appeal of the sector has nothing to do with market valuation -- it has everything to do with demand drivers on the national political and economic and global levels," Carboy said. "We have a need to more efficiently use energy, and get more energy from renewable sources. Those don't change based on market valuation. Corrections are an opportunity to look at names thought of as too expensive in the past."...
Article continues at MW.
And at the ER, these insightful, nay, profound observations:
Comment by - August 8, 2007 at 11:52 am