AltEnergyStocks.com: "Tight Credit Markets Won’t Stop Wind Energy Industry"
Tom Konrad of AltEnergyStocks.com is out with an article this morning on the wind industry, highlighting reasons to be bullish despite a tight credit market.
His top 3 are:
- both Presidential candidates are calling for the cap n trade system
- the Production Tax Credit (PTC) was extended (I’ll add to this – this is only a one year extension but an Obama victory would likely expand this kind of government subsidy for renewable energies)
- commodity prices are falling, dropping the cost of wind farms (I’ll add to this – conversely, plunging crude prices will diminish the cost savings of wind power, but as I wrote at Self Investors, the price of oil is still in a 10 year bullish uptrend and will most likely rally up into the 80 – 100 range soon. Where it settles out though is anyone’s guess.
I agree with Tom that the best way to play wind is with the First Trust Global Wind Energy ETF (FAN) which is off nearly 70% from its debut this summer.
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