Replies to post #1190 on Alternative Energy

[QuickTrade]

Well, DESC recieved a $1.14 Million Contract to Install Wind Turbines in Alaska. The chart is horendous right now, I wouldn't touch it with a 10 foot pole unless it's a "quick trade" :) All these alternative energy stocks aren't profitable yet but if they say next year, oh man, thats great news.

I'm thinking all these companies will be profitable within 4-6 years but once they show profit, you'll see the stock soar! I'd wait till the stock can estabish some sort of uptrend.

Here's the news on that contract.

WAITSFIELD, Vt. (AP) -- Distributed Energy Systems Corp., which makes energy generation products, said Friday it received a $1.14 million contract to install and service wind turbines for a nonprofit electric utility serving residents in 52 villages throughout rural Alaska.
Distributed Energy's Northern Power subsidiary will install four NorthWind 100 turbines for the Alaska Village Electric Cooperative (AVEC) in the village of Chevak, Alaska by this fall, the company said. They will replace about 30 percent of the energy normally generated by diesel fuel, according to Distributed Energy.

AVEC has now bought a total of 13 turbines from the alternative energy company.

[QuickTrade]

PLUG forming a bottom. Buy Confirmed. It confirmed a Homing Pigeon patter from yesterday. It formed a Hammer today which could mean its hammering out the bottom. We'll have to see if it goes up above it's trading range.

[QuickTrade]

Oil Prices Breach $72 a Barrel

Oil Prices Breach $72 a Barrel
Tuesday June 27, 1:11 am ET
By Sui-Lee Wee, Associated Press Writer

Oil Prices Breach $72 a Barrel on Worries About Snags in Gasoline Supplies

SINGAPORE (AP) -- Oil prices rose above $72 a barrel Tuesday as the suspension of refinery productions along the U.S. Gulf Coast due to a shipping snag reignited concerns that gasoline supplies would not be able to meet demand during the summer driving season.


Also, rising demand from China -- Asia's largest energy consumer -- and worries about the ongoing tension between Iran and the West have lifted oil prices in recent weeks, with crude futures now trading about 19 percent higher than a year ago.

Light, sweet crude for August delivery rose 24 cents to $72.04 a barrel in electronic trading on the New York Mercantile Exchange. Gasoline futures rose marginally to $2.18 a gallon, after gaining more than 5 cents to finish at $2.1788 per gallon Monday night.

Prices for refined products such as gasoline is driving the market, said Victor Shum, an energy analyst with Purvin & Gertz in Singapore.

"Crude oil derives all of its values from product prices," Shum said. "When product prices increase, there's a knock-on effect on crude."

Moreover, Wednesday's weekly snapshot of U.S. petroleum supplies might show a fall in gasoline stocks as demand picks up ahead of the July Fourth holiday, when Americans typically travel, Shum said.

The U.S. Coast Guard said Sunday that only limited tug and barge traffic had resumed through the Calcasieu Ship Channel, which had been off limits due to the spread of oil from a spill last week at the Citgo Petroleum Corp. facility in Lake Charles, La. The closure, which has lasted for six straight days, has forced at least four refineries on the Gulf Coast to reduce runs.

Recent Chinese customs data showed the country's oil demand growth accelerated to 13.5 percent in May, as refiners boosted output and curbed exports ahead of a domestic price increase to meet peak summer demand. The rapid increase in car sales in China -- to 24.1 percent in May from a year earlier -- have also contributed to the rise in gasoline demand, Shum said.

On the Iran front, President Mahmoud Ahmadinejad on Monday shrugged off increased international pressure over his nation's disputed nuclear program, saying it would not cause his country any harm.

Washington has warned Iran that it could face political and economic sanctions before the U.N. Security Council if it doesn't stop its nuclear activities, which the United States and its European allies say is an attempt to produce nuclear weapons. Tehran says the uranium will be used only for a peaceful energy program.

Oil traders are watching how the developments might affect Iran's oil exports.

Ahmadinejad has said Tehran is studying a list of Western incentives for Iran to stop its program, and said he will reply by mid-August. European and U.S. officials have called for an answer in mid-July.

In other Nymex trading, heating oil prices rose marginally to $1.9825 a gallon, while natural gas futures climbed 7.1 cents to $6.04 per 1,000 cubic feet.


LINK: http://biz.yahoo.com/ap/060627/oil_prices.html?.v=3