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Green Chip Stocks Index:

ABB (ABB) - 23.02 ↑ 0.07

Canadian Solar (CSIQ) - 27.22 -0.57

Chipotle Mexican Grill (CMG) - 654.90 -4.64

Daqo New Energy (DQ) - 32.24 ↑ 0.17

First Solar (FSLR) - 51.04 ↑ 0.38

General Electric (GE) - 26.86 -0.14

Hannon Armstrong (HASI) - 13.85 ↑ 0.20

Hanwha SolarOne (HSOL) - 1.83 -0.05

iPatch DJ-UBS Coffee (JO) - 35.91 ↑ 0.96

iPath Pure Beta Coffee (CAFE) - 23.72 ↑ 0.55

JA Solar (JASO) - 9.20 -0.29

Maxwell Technologies (MXWL) - 11.06 -0.40

NRG, Inc. (NRG) - 30.74 -0.26

NRG Yield, Inc. (NYLD) - 48.43 ↑ 0.66

Ormat (ORA) - 27.77 -0.03

Pattern Energy Group (PEGI) - 26.86 ↑ 1.03

SolarCity (SCTY) - 56.85 ↑ 0.50

SunEdison (SUNE) - 22.67 -0.22

SunPower (SPWR) - 29.12 -0.12

TerraForm Power (TERP) - 33.28 ↑ 0.85

Tesla (TSLA) - 248.09 ↑ 1.37

TransAlta Renewables (RNW) - 11.34 ↑ 0.00

Trina Solar (TSL) - 10.62 ↑ 0.26

U.S. Geothermal (HTM) - 0.50 ↑ 0.00

Whole Foods Market (WFM) - 48.18 -0.03

Yingli Green Energy (YGE) - 2.88 -0.11

Romney Energy Plan Saves the World!

Modern Energy Roundup - August 23, 2012

By Jeff Siegel   

Well, we can all breathe a sigh of relief. . .

Mitt Romney is set to unveil his energy plan today, and apparently, this is going to help us become energy independent by 2020.

Sure, Nixon, Ford, Reagan, Bush and Clinton all claimed the same thing, but apparently a guy who probably doesn't even know the price at the pump has figured out not only how to make the United States energy independent, but actually do so in less than eight years. Wow!

The big push is his plan to give states the power to determine whether or not drilling and mining should occur on federal lands. Apparently, by moving that power to the states, this somehow drastically increases our proven reserve numbers and the length of time it takes to produce these resources.

Don't get me wrong. I'm not saying the federal government has done a bang-up job when it comes to energy policy. And I'm not even necessarily arguing that individual states shouldn't have more control. Quite frankly, it doesn't matter if the guy on the take is the President of the United States or some random governor looking to pick up some favors on his way to 1600 Pennsylvania Avenue. At the end of the day, it's the corporations that dictate energy policy. And those with the deepest pockets get the best deals.

Of course, Romney's “plan” is really nothing more than politics. The fact that he keeps talking about Obama's “alternative energy agenda” is laughable.

Although Obama claims to be a supporter of alternative energy, his actions haven't really been indicative of his words. The fact that Solyndra even happened shows how much thought has actually been put into this alternative energy agenda. There isn't an energy analyst on the planet that didn't question the Solyndra deal from day one. Yet somehow those in the White House knew better? Nah, I smell a rat. The same rat that was eating government cheese in the Rose Garden under the Bush administration when Solyndra first showed up with its magic beans.

But enough about Solyndra. That's just noise at this point, and the bottom line is that the solar industry does not live and die by a company that simply couldn't compete against China's solar dominance.

While I fully expect Romney to keep pounding home this idea that Obama is anti-oil & gas, it would be wise for all of us to accept the fact that President Obama has been just as much a tool of the oil & gas lobby as the rest of them.

Fact is, the Obama administration has been very cozy with the oil & gas industry, and now that fracking has allowed the US to bathe in dirt-cheap natural gas, that relationship has flourished.

Sure, Obama opponents will pick and choose a few random environmental regulations and claim they're hindering growth. But that's mostly just a smokescreen to keep you from noticing that both sides of the aisle continue to turn a blind eye to the fact that the banking industry is the real puppet master behind the global economic collapse that has devastated growth all over the world.

And don't think for a second that both Obama and Romney don't regularly bend over for these criminals.

The take away from all of this? Romney, like every other bureaucratic liar is promising something he absolutely cannot deliver. And those who fall for it, like so many that have fallen for this same song and dance in the past, will show up at the steps of 2020 with a serious case of buyer's remorse.

Truth is, I would love for one of these guys to just step up and be honest.

Just once I would love for one of these guys to say this. . .

“Look, we are not going to be energy independent. It's simply not going to happen. But we can take the appropriate steps to at least displace all the oil we regularly buy from nations that our hostile towards the US. By integrating a 54 mile-per-gallon fuel economy standard, fueling our trucks and buses with domestic natural gas, getting more electric cars on the road, and aggressively developing and expanding our mass transit systems, we can at least stop funding terrorist activity with oil money. That in itself is a major accomplishment that shouldn't even be up for debate. As well, while we will continue to utilize conventional forms of power generation, there is no doubt that long-term, the economics of wind and solar make sense. By allowing solar and wind to produce 25 percent of our power generation, we guarantee that 25 percent of our power generation will never be reliant upon a resource that will only get more and more expensive as the years go by. We have to start preparing for the future sometime. Let's do it today. Let's not leave this burden for our children. Because to do so would be nothing short of irresponsible and immoral.”

 

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Jeff Siegel on CNBC
Green Chip Stocks Editor Jeff Siegel, featured guest on CNBC's Green Week

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