Washington's embrace of alternative energy promises opportunity
By Pete Gallo
A deep global recession and a severe slowdown in industrial output isn't exactly the kind of environment that favors hedge funds looking to profit from energy. Even though it was less than a year ago, the days of scoring easy returns in the wake of an expanding wave of oil and commodity consumption are a distant memory.
However, President Barack Obama's embrace of the spirit of Kyoto - and his promise to pump billions of dollars into environmentally friendly technologies - has the potential to create supercharged opportunities. No less than 13% of Obama's recently passed $738 billion stimulus package is aimed squarely at the alternative-energy sector, redubbed "clean tech" by supporters.
"Everyone is awaiting a lift, given the substantive tax credits that will be moving into the sector later this year," says David Kurzman, founder of Kurzman CleanTech Fund, which invests...