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Energy climate bill passes in House by 7 votes: 219-212
8 republicans vote for bill
44 democrats vote against it
Tom
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I am not a Registered Investment Advisor and this is not investment advice. Please do your own due diligence.
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Oh HELL, we are really doomed to spiraling inflation! Thank you OBAMA! I Quit, It's time to storm the Bastille.
Actually it needed at least 218 in order to pass- that's 1/2 +1 of the 435 members of the house. The 219 is one more than the minimum necessary to be able to say it passed with a majority.
I would not bet much on it passing the Senate, however. More resistance over there.
SO let's see how long it takes for someone to invent something to do with all that carbon, to cash in on carbon credit.
let's see,,,,,what to do with carbon.
I know-
Let's make man-made diamonds out of it.....
Solution found. (I LOVE America).
Turn carbon dioxide into food for Algae.
Turn Algae into ethanol.
See today's story:
http://www.detnews.com/article/20090...-ethanol-price
Dow project may cut ethanol price
Plans made for a Texas biorefinery that uses algae to make fuel for as little as $1 a gallon
Jaclyn Trop / The Detroit News
Dow Chemical Co.'s latest venture could make a host of consumer products -- from bread bags to home siding -- cheaper and more environmentally friendly.
The company plans Monday to build and operate a biorefinery that will use algae to convert carbon dioxide into ethanol, producing the fuel for as little as $1 per gallon.
If successful, the Midland-based chemical giant will find other commercial uses for the ethanol to replace natural gas as an ingredient in plastic products, including sandwich bags and milk jugs.
Okay then, since domestic Natural gas is about to get run further into the ground by LNG imports anyway, pun intended (LNG cheaper than domestic gas, even with domestic rigs shutting down right and left), guess its time to bail my domestic oil/gas producer in Roth account, add DOW, or maybe keep both to hedge my bets. I've been waiting for algae ethanol to go commercial, guess Dow has beat other developers to the punchbowl.
"life can only be understood backwards, but it must be lived forwards" - soren kierkegaard
Algae is also being used to make oil for biodiesel. One strain of algae can be used to make ethanol, another for biodiesel oil. I understand that the same strain used to make ethanol can also make hydrogen instead of oxygen under certain conditions, which could be used in hydrogen fuel cells. It's a very interesting prospect, to say the least.
God bless the United States of America!
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