Geothermal Energy: These Stocks Could Suddenly Double in Value
Less than two months ago, Canadian pipeline giant Enbridge did something strange.
The company announced it was spending $24 million to take a 20% stake in a modest, 35-megawatt project being developed by a company few investors have ever heard of: U.S. Geothermal (AMEX: HTM).
The project is located at Oregon's Neal Hot Springs, where the Earth's heat literally shoots out of the ground. Companies like U.S. Geothermal build plants on top of these hot spots, providing clean, quiet energy for decades.
Don't be surprised if the Enbridge deal turns out to be the start of a string of new joint ventures or even acquisitions of geothermal companies. As large-cap energy companies and utilities move into this space, share prices are going to skyrocket. (U.S. Geothermal is up more than 40% since Enbridge announced the deal.)
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