The United States is the undisputed leader in total energy consumption per annum, and its energy usage has increased by more than 300 percent since 1950. In 2005 it was estimated that roughly 40 percent of US energy consumption came from petroleum, 23 percent from natural gas and 23 percent from coal, with nuclear power supplying about 8 percent and renewable energy sources such as hydroelectric dams, wind-power, solar energy and geothermal making up the balance of around 6 percent – a situation which is being addressed as a matter of urgency.
US President Barack Obama has been quoted as saying that the US is entering a new era of energy exploration with the development of renewable energy sources and energy efficient products. Certainly, investors are sitting up and taking notice of this. The US Department of Energy is making every effort to reduce the country’s dependence on oil, especially from imported sources. Among the options being explored are modernizing the US energy infrastructure to support alternative fuels, such as biomass and bio-fuels, as well as harnessing the power of nature’s renewable resources such as wind, geothermal and hydro energy. Companies pioneering energy efficient technology and alternative energy resources have the potential of doing really well in the future.