But we failed to mention that he's not alone in the world.
Governments in Asia and Europe are shifting their infrastructure focus toward greener, more efficient technology too.
In fact, these three regions - the U.S., Europe and Asia - have now committed more than $200 billion to funding green energy initiatives, according to a new report by Deutsche-Bank.
As Reuters reported, DB's head of climate change investment research Mark Fulton sees this trend as bullish for green energy companies in general:
"The activity shows that governments are very serious about continuing to tackle issues around renewable energy and climate change," he said during a teleconference just as DB released its latest analysis yesterday.
"We believe this trend ... will provide crucial support to climate change industries during the current global economic downturn, helping to offset the impact of weaker debt markets over time."
European Union nations have already committed some $60 billion to green energy and infrustructure companies. And these are exactly the areas where we'll be looking to build some of our core portfolio in the coming days.
In fact, we may start with a California company that's already tied into that state's smart-grid project pipeline.
The shares have taken a beating over the past year, as you can imagine. But it's in the sweet spot right now, and possible poised for a rally on the back of Cali's green infrastructure buildout.
That company is called SunPower Corporation. Here's the info from Yahoo! Finanace:
http://finance.yahoo.com/q?s=SPWRA
We're not officially recommending the company yet, but it's on our watch list.
I'm thinking this time around, we're going to start putting together some kind of strategic portfolio, complete with some asset allocation, to ride out this economic storm.
More to come,
James
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