Bush Calls for Greenhouse Gas Cap

Bush Calls for Greenhouse Gas Cap

In a Rose Garden speech, President Bush proposed stopping the growth of the nation’s greenhouse gas emissions by 2025 and urged other industrialized nations to set goals to address climate change.

While setting a broad goal, the president offered only a general outline — and few specifics — about how to achieve the objectives.

Friedman, Billings, Ramsey analyst Kevin Book in a client note said the White House move “could lead to a positive market response for names levered to clean power generation (wind, solar, geothermal, etc.), hybrid vehicles components, and U.S. natural gas extraction.”

Shares of solar energy companies surged. First Solar Inc. rose $8.59, or 3 percent, to close at $295.91. Evergreen Solar Inc. rose 41 cents, or 3.9 percent, to $10.85 and SunPower Corp. gained $5.16, or 5.5 percent, to $99.58.

Zoltek Cos., which makes carbon fibers used in wind turbine blades, rose 29 cents to $23.08.

Earlier this week, Book also mentioned natural gas producers Anadarko Petroleum Corp. and Chesapeake Energy Corp. as potentially benefiting from Bush’s new position. Shares of both natural gas companies rose more than 2 percent.

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