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Sep 02, 2009Geothermal Is Getting Red Hot!
With all the flash and glitz of solar and wind power, geothermal has been largely under the radar, misunderstood and mostly ignored. Maybe investor interest will increase with the recent announcement of $350 million in new investment in geothermal technology under the Recovery Act and the recent over-subscribed ($87 million) initial public offering by Magma Energy Corp. (MGMXF.PK).
Geothermal energy has quietly been growing amongst other renewable energy sources because of a few key characteristics which make it increasingly attractive and commercially viable. I predict a decade of unprecedented growth for the geothermal industry, and outstanding long-term gains for investors in select geothermal stocks. To boot, this is a clean energy resource we have plenty of right here at home and one in which the U.S. has a leadership position with about 30% of worldwide capacity.
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