Energy Secretary, Sam Bodman chimed in yesterday on the probability of a U.S. recession, indicating that high oil prices pose a significant problem for the country.

Interestingly enough, Bodman told the press that global oil supplies were not as high as the U.S. would like.  This, only a day after the President said he was going to tell Saudi Arabia's King Abdullah that high energy prices can affect economic growth because it's painful for our consumers and could cause the U.S. economy to slow down.

Of course, we can't pin the whole economic implosion on energy, but we can definitely profit from it.  In fact, with the market selling off the way it's been, we're now seeing an opportunity to pick up shares of a number of alternative energy stocks, at serious bargains.

Take a look at microturbine manufacturer, Capstone Turbine (CPST:NASDAQ), for instance.

Here's a company that, in the last two weeks has announced new distributor agreements in both Brazil and China, and a $4 million order for its new 200kW microturbine.

Before the market slipped, the stock was climbing steadily, hitting $1.92 a share on January 8.  Today, the stock is trading around $1.41 a share. 

When the smoke clears, folks, this one's coming back.

And take a look at Raser Technologies (RZ:NYSE).  On Thursday, the company announced that Merrill Lynch had agreed to provide funding for construction of the company's new geothermal power plants.  The investment bank agreed to finance up to 155 megawatts, with the first project expected to go into service before the end of 2008.  Folks, this is $44 million deal!

Naturally, weak hands and traders sold on the news, but the stock still shed 17% by the close of the day, yesterday.  And here's the clincher-the stock hit a new 52-week high of $18.44 less than a month ago.

Again, when the smoke clears, this one's coming back.

And finally, take a look at Daystar Technologies (DSTI:NASDAQ).

Here's a solar stock that routinely bounces off the $4.00 mark.  Traders played this one a few times in 2007 for significant gains.

The stock closed at $3.81 today. 

When the smoke clears, this one's coming back.

Point is, while we certainly don't look forward to these kinds of major corrections, we can't deny the fact that we love a bargain when we see it.  And the current state of the market is providing just that.  A big fat bargain!

So don't panic, my friends.  Do a little digging, and load up while the getting's still good.

To a new way of life, and a new generation of wealth...

Jeff