How to Profit from the Energy Bill

The proposed energy-conservation bill is sure to pass, says Kevin Book -- and there are plenty of ways to profit from it. The senior vice president for energy policy, oil & alternative energy at FBR Capital Markets offered several stock plays for alert investors.

Book said that one efficiency theme will be "white light replaced by solid-state white light" -- and Philips Electronics, maker of LED-based lighting products, is sure to gain.

He pointed to two other green-play stocks: Johnson Controls and Energy Conversion Devices, makers of batteries for hybrid autos.

One angle that may surprise investors: Book believes a big beneficiary of increased fuel-efficiency standards will be big oil players such as Exxon Mobil. As consumers save more on their fuel bills, they'll be psychologically prepared to spend more on filling the tank, he says.