Green energy stocks are soaring.
All after Dem. Senator Joe Manchin agreed to an economic bill that includes climate spending.
“Details of the bill are not yet available, but based on commentary from the Senators, we expect spending on clean energy (including hydrogen, nuclear and renewables) as well as fossil fuels,” analyst Mark Strouse at J.P. Morgan said, as quoted by MarketWatch.com.
So far, all we know is that legislation could include $369 billion for climate and energy programs.
According to Joe Manchin’s site, “The Inflation Reduction Act of 2022 invests in the technologies needed for all fuel types – from hydrogen, nuclear, renewables, fossil fuels and energy storage – to be produced and used in the cleanest way possible. It is truly all of the above, which means this bill does not arbitrarily shut off our abundant fossil fuels. It invests heavily in technologies to help us reduce our domestic methane and carbon emissions and also helps decarbonize around the world as we displace dirtier products.”
If the bill passes, green energy stocks, including hydrogen, solar, and nuclear could explode.
It’s just something to consider, if you’re looking for opportunities.
