This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
NEW YORK ( TheStreet) -- For most of my life, and yours, energy politics has been about a fight for energy supply.
Now, as I indicated
yesterday it's becoming a fight for energy markets.
So long as that energy is in the form of oil and gas, of course, existing energy companies can control prices by manipulating supply. Are oil prices under pressure, as
Marketwatch reports today? Does maintenance on a few refineries, as
Reuters reports -- keep the price high. Natural gas prices too low to justify new investment? Export the stuff, as
Business Week writes -- then keep flaring and bottling in supplies until the new demand is in place.
But renewable energy of all sorts, plus efficiency (the cheapest renewable of all) keep advancing.
Thus, a state-by-state war has broken out over renewable energy, with utilities and fossil fuel companies trying to maintain their control of the market.
More than half the states with renewable energy standards considered bills this year to repeal those standards,
Business Week reports and the big surprise is those efforts went nowhere fast, not because environmentalists are smart but because new suppliers are adamant about maintaining market access.
North Carolina, with an all-Republican government, failed this last week to move a bill and the issue is dead for this session, writes
SolarServer. The same thing happened in Missouri, notes the
National Resources Defense Council.
Here is where this hits your investments. Utility stocks, especially electric utilities, are among the most stable investments in your average portfolio. But these companies now face an historic choice between fighting the new supply or seeking ways to control it.