Big Oil tries to play the green energy card but in reality, they invest very little in this non-core business. Meanwhile, smart business investors in the Middle East are re-investing their windfall profits and setting themselves up for the future. The Democrats (with the exception of Rep. Dingell) understand that change is needed but the GOP is all too willing to ignore any alternatives, because they think that any investment in alternative energies is giving in to the environmentalists. The only change they accepted was biofuels because that was a boondoggle for corporate farmers. Even the oil region millionaires get it, but the GOP can't grasp this simple point.
The next wave of oil wealth will go probably go into alternative energy, says D’Agostino. Middle East investors are comfortable with longer time frames and can weather the volatility of this sector. Specifically, solar & wind names are most likely to benefit.
