The ayes have it.

In an unusual Saturday vote, the US House of Representatives voted over the weekend to pass two landmark bills related to energy.

Surrounded by much media attention and partisan name-calling, HR 3221, the New Direction for Energy Independence, National Security, and Consumer Protection Act, was passed by a vote of 241 to 172. The Renewable Energy and Energy Conservation Tax Act of 2007, HR 2776, passed with a vote of 221 to 189.

Among other great provisions, the bills call for more rigorous energy efficiency standards for appliances and lighting, improved incentives for the construction of "green" buildings, taking $16 billion in tax incentives away from Big Oil and putting it toward renewable energy sources, and--my favorite--requiring investor-owned electric utilities nationwide to generate at least 15 percent of their electricity from renewable energy sources such as wind or biofuels.

You can imagine the words of fire spouted from the mouths of the opposition.

House Republican leader John Boehner, R-Ohio, said it was a bill that "cuts the lifeblood of our economy off at the knees by increasing taxes to pay for green pork projects."

He was referring to Southern (coal) states and how the legislation would raise their costs for producing electricity.

But I guess not everyone from his state felt that way. Eight representatives from Ohio voted in favor of the bill, with Denis Kucinich absent because he's on the campaign trail. He, being about as liberal as they come, would've voted in favor of the bill.

Representatives from North and South Carolina, West Virginia, Mississippi and Arkansas all either passed the legislation or tied.

I guess when a bill is inherently good, it's hard to muster opposition. You won't see those roll call votes plastered all over the news. But you can see them here.

Many Republicans called it, as I'm sure you've read, a "no-energy bill," because it takes drilling incentives away that the oil companies have been receiving for years. Why does an oil industry whose prices are at an all-time high need incentives to manufacture their product?

My two favorites though, were the following.

"There's a war going on against energy from fossil fuels," said Rep. Ralph Hall, R-Texas. "I can't understand the pure venom felt against the oil and gas industry."

Maybe it's because they are finite resources. Maybe it's because they pollute. Maybe it's because there's already a war being fought in support of fossil fuels.

But most likely, it's because of bastards like Sen. Ted Stevens, for his dalliance with lobbyist-in-pocket Bill Allen, former head of the oil field services company VECO Corp., who earlier this year pleaded guilty to bribing state legislators and now is at the center of three other investigations leading all the way to the Capitol.

Allen also led executives from BP PLC, Exxon Mobil Corp. and ConocoPhillips to "lobby" on behalf of oil producers on Alaska's North Slope.

You can bet their time in court will come. But the way they're perceived in the eyes of the public and legitimate lawmakers is already evidenced in votes like the ones that took place on Saturday.

And let's not forget angry elementary-school-boy-in-a-legislator's-body Rep. Joe Barton, R-Texas, who said that this bill "isn't going anywhere" because President Bush will veto it if it gets to his desk.

He should've just said this, "Mr. Bush the Democrats want to enact legislation that I don't like. Make them stop."

I can just see this guy running up to the third grade teacher every time Sally said he had cooties.

I Guess We'll See

So Mr. Bush probably will veto this legislation. He seems to do so every time a moderate bill is proposed anyway.

But these charades can't last for long. He is a lame duck, after all.

And the mere fact that the citizens of this nation are ready for change and that our Congress is paying attention is enough. The bills that should be enacted soon will be.

In the meantime, we'll be able to see the results of a changing tide in the market.

Just look at the advertisement that Chevrolet placed on the very page where a story about this legislation was printed:

I guess money makes people do crazy things. And there is plenty of it to be made in the renewables and energy efficiency sectors.

Just have a look at a chart of one of the most recent Green Chip Stocks recommendations:

Another recent Green Chip Stocks pick is a small, "under-the-radar" solar company that's landed a huge contract to provide solar roof tiles for one of the country's largest home builders.

Even with the recent correction, this one's still up 17% in less than three weeks.

Of course, these are the kinds of gains Green Chip delivers on a regular basis. In fact, our total portfolio is up over 60%.

Regardless, as reality continues to chip away at special interest, at least in the case of energy, these renewable energy stocks will only continue to head north.

So click here , and get a piece of the action today.

Until next time,

Nick

P.S. - even with today's market volatility, Green Chip members picked up a 14% gain on a "green" plastics stock (plastics that don't use petroleum) that's been in our portfolio since January.  Total gain on that one so far-143% in only 8 short months!

Don't miss out on that next one.

Click here for more on this, and other "green" market opportunities.

"Energy stocks... The only way a human is going to make any money."

-- Matt Simmons, Peak Oil's first and most vocal proponent,
and founder of the country's last pure play energy investment banking firm.

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