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| Oil Prices Help Solar Stocks |
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| Written by Miranda Marquit | |
| Tuesday, 30 October 2007 | |
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As oil prices rise, so do solar stocks. Rising oil prices appear to be helping solar stocks. And, as the AP reports in an energy roundup, now may be a good time to think about renewable energy investing: Market psychology favors renewables when there are reminders of the "finite" nature of petroleum reserves, said Cowen & Co. alternative energy analyst Rob Stone. ..."When oil enters new trading ranges, that has a significant impact on the group," Stone said in a phone interview. "You saw further discussion this morning of whether oil was going to breach $100."As oil prices continue to cause concern over such issues as refining margins (Chevron - CVX - and Marathon Oil - MRO - are especially hard hit right now), the time for a shift in energy investing may be coming. Most energy stocks are down right now, even giant ExxonMobile (XOM). But some, like Ascent Solar Technologies (ASTI), are on the rise. And even though SunPower Corporation (SPWR) is down right now, it has shown itself to be a strong company fundamentally, especially in terms of solar stocks. Solid renewable energy investing now could be of great benefit down the road. SPWR is solid, and ASTI offers a bargain price. Either of them may good choices in a long-term buy and hold strategy. However, it is important to realize that solar stocks, and other renewable energy investing, tends to be rather volatile - and hence riskier - since most of the companies are new. Perhaps one of the reasons Big Oil has been reluctant to let gas prices catch up with oil prices is because when people see gas prices skyrocketing, they tend to start thinking about alternative energy. And it seems that this reaction is starting to be borne out as solar stocks gain on the back of rising oil prices. Disclosure: I am not investing in any of the companies listed above. I am interested in solar stocks, and am seriously considering both SPWR and ASTI. Site disclaimer. Alternative Energy 
Big Oil 
CVX 
Miranda Marquit 
SPWR 
Solar Energy 
XOM 
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