Convention Hikes Alternative Energy Stocks

Aug 31 - United Press International

Alternative energy companies saw a market boost Tuesday after the U.S. energy secretary reiterated the president's support for alternative energy.

U.S. Energy Secretary Spencer Abraham's comments were made during the second day of the Republican National Convention in New York City, as delegates prepared to officially nominate George Bush as their presidential candidate for election in November.

Companies that saw a bounce from Abraham's comments included FuelCell, Beacon Power, Plug Power and Quantum Fuel Systems Technologies. Beacon Power saw the biggest percent jump of 29.4 percent, up to 44 cents.

Republican policy supports alternative energy, but also searches for ways to boost domestic fossil fuel supplies to reduce fossil fuel imports.

For far more extensive news on the energy/power visit:  http://www.energycentral.com .

Copyright © 1996-2004 by CyberTech, Inc. All rights reserved.