Looks like "Mr. Market" likes the possibility for the energy tax credit for renewable energy sources to be extended in the US.
The renewable energy stocks in the US (before the market opens) are up BIG.
The big oils are just slightly above flat.
Going forward (months and years).....we are going to see a "divergence". For one to two years....the oils may go up (bounce) as the current imbalance (too much supply) plays itself out. But the renewable stocks (SPWR, SEDG, TAN, FSLR, SCTY, etc) will greatly outperform.
Remember....those of us in the US are UNFORTUNATE ENOUGH to have absolute IDIOTS in our Congress that are basically "on the take" from fossil fuel companies. Right now....Marco Rubio and Ted Cruz are trying to get the Koch Brothers money in their corner for the presidential election next year....so they are having a competition to see who can bash global warming the most.
Thus....in the US....we are competitively BEHIND Europe and China in moving to renewable energy. But I think the Genie is "too far out of the bottle"......and the stock market knows it.
In the US.....we are at about 4% of energy supplied by solar and wind. That is going to go up HUGE OVER THE COMING DECADE. HUGE....
By the way.....I have a QUESTION for some of you. I am trying to find a BETTER AND FASTER WAY to pull data from the NOAA......"Daily Tools: Daily Records Data" section of their website (link below). I have pulled some of the data for the United States since 1930.....but I want to pull it from China, Brazil, Russia, and Australia as well.....but I DON'T want to do it LINE BY LINE...MONTH BY MONTH....like I had to do it for the US. Is it possible for them to send FILES (an Excel file would be BEAUTIFUL) to me? Some of you folks likely have some experience working with them....so I thought you might know. Thanks in advance....
http://www.ncdc.noaa.gov/cdo-web/datatools/recordsHere are two examples of the power point sheets I prepared from Excel files for the US:
http://climatechangegraphs.blogspot.com/2012/08/ratio-of-new-record-high-temps-to-new_36.htmlhttp://climatechangegraphs.blogspot.com/2012/08/ratio-of-new-daily-record-high-temps-to_30.htmlI'm in Georgia (US)....so sometimes I feel like I am in a "3rd world country)......