The report on crude oil inventories yesterday showed that inventories fell less than expected. This may have slowed oil's mad rush to the magical number of $100 per barrel, but if recent history is any indicator of the future, the respite may be temporary.
As much as we all may hate high oil prices, for those working towards a world less dependent on fossil fuels, the skyrocket price of crude may be a big help. After all, the bottom line usually ends up being the bottom line, and as long as oil continues to be a cheaper source of energy than alternatives, those alternatives will have a tough time hitting the mass market. For "green" energy sources, though, higher oil prices helps level the playing field.
On The Motley Fool's CAPS service, players have had a mixed reaction to many alternative energy stocks, but have identified Suntech Power and MEMC Electronic Materials as top plays in the solar market, and they also have liked Archer Daniels Midland for its work in ethanol.
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