It began in Europe and for the last 900 years stayed there! High costs and inefficiencies did not make wind power cost effective for most capitalist countries. But with the price of coal, oil and natural gas increasing and the price of wind power dropping this alternative energy is experiencing hurricane-force demand.
The attraction is obvious in heavily polluted countries like China where kilowatt hours generated by wind jumped a whopping 95% last year. But now lower costs make the appeal worldwide. Wind power represented about a third of the new energy sources brought on line in the U.S. and the whole world last year.
Edison International , among our country's largest utilities, announced plans to triple its wind power business by 2009. The Wall Street Journal now calls wind the most economically viable alternative.
So with the whole world on the wind bandwagon wind is my second commander planet play.
Seriously Pete, how do you recommend trading it?
I like FPL Group , says Pete Najarian, because they have 49 areas in 15 states dealing in wind generation. Also investors can look at American Superconductor Corpbecause they develop wind turbines as well as Hexcel Corp which makes carbon fiber used in the turbines.
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Trader disclosure: On Feb.12, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (INTC), (YHOO), (DIS); Najarian Owns (BIIB), (C), (CSCO), (MCD), (MS), (MSFT), (YHOO), (XLF); Najarian Owns (AAPL) Calls; Najarian Owns (FRE) Puts; Finerman Owns (GS); Finerman's Firm Owns (AAPL), (GE), (MSFT), (WMT), (YHOO); Finerman's Firm And Finerman Own (HD); Finerman's Firm Is Short (SPY), (IJR), (IYR), (MDY), (IWM); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts