T. Boone Pickens does not care if the price of oil is falling. His opinion is that most of the drop is over and that his plan for wind energy is still viable and necessary for future U.S. independence from crude imports.

Pickens could not be described as faint-hearted. Rumors are that his $7 billion BP Capital hedge fund took a 35% haircut in July by betting the wrong way on oil and gas. It is a paper loss, but must sting nonetheless.

Some argue that Pickens is old and monumentally rich so gambles on wind and oil don't mean much for his own fortune. That could indicate that his conviction about wind-powered energy is not based on greed. Since he has spent his life aggressively accumulating wealth, that is not likely.

What is likely is that he thinks oil prices may stay very high and that his alternative energy will do remarkably well because it is infinitely renewable. If so, it is too bad his hedge fund cannot invest a few billions into wind technology. He can't afford another 35% loss. At some point his convictions may put him in the poor house. At least as it would be viewed by a billionaire.

Douglas A. McIntyre is an editor at 247wallst.com

According to the FT, GE (NYSE: GE) "will announce plans to double its investments in renewable energies to $6bn by 2010."

GE is, of course, smart to put its capital into a necessary hedge against crude oil and gas. Most evidence points to the fact that high prices in this sector will make alternative energies more practical and profitable.

But GE's plan has some drawbacks. The first is that the market for new energy sources will be very crowded. Many of the companies are small. That does not play to GE's strength of being in very large, capital-intensive businesses like jet engines and infrastructure. The capital that makes GE such a winner in its current businesses may not be as important in an emerging industry with hundreds of start-ups.

GE also is entering a business that depends to a great degree on government regulation and tax breaks. In many countries, alternative energy growth is based on incentives granted through taxation or contracts for local projects. That can be fickle. GE may not do fickle well.

Douglas A. McIntyre is an editor at 247wallst.com.

If you're a regular reader, I'm sure you already know from earlier blogs that I'm a fan of smart investments in green stocks. JPMorgan Chase & Co. (NYSE: JPM) is not only the third-largest U.S. bank, it also has a $1 billion portfolio of wind energy investments. Its 26 wind farm investments, included in the portfolio, have enough juice to power an average of 600,000 U.S. homes.

I feel that wind power is a terrific investment if done in an intelligent way, but this is not the only way that JPM impresses me. JP Morgan wants to be a bank with everything -- with retail banking, investment banking, asset management, and credit card divisions all under one roof. To that end, recently JP Morgan integrated with Bank of New York, where I was a customer. I always say seeing is believing. Bank of New York was suffering from poor performance before JP Morgan stepped in, and already, I see signs of improvement. JPM is also dedicated to controlling expenses at these branches, which will help its retail division.

Even more, I'm a big fan of JP Morgan's innovative and strong-minded CEO, Jaime Dimon, who took the helm of JPM in 2006, coming from Bank One. Particularly strong first quarter results showed a 55% net improvement over the same results last year (though, to be fair, I should mention that in part this was due to a new accounting rule adding a one time gain of $391 million). The investment bank division is going gangbusters while retail banking and card services are showing flat growth, but I think this is about to change.

Acquisitions made in the past will continue to eat at profits, but under Dimon, the bank has set specific goals in each division to smartly cut costs and drive profits. I think we're going to see JP Morgan make solid gains in the coming years.

Type of stock: The third largest bank in the U.S., I think JP Morgan has great potential under Jaime Dimon, its CEO since 2006. JPM has been careful not to overextend itself in this period of economic prosperity, a prudent move in these rapidly changing economic times.

Price target: Currently trading at $49.82, I think this is one of the few financial institutions that it is a good buy
right now. We should see JPM hit $65, maybe even by year's end.

Hilary Kramer is a financial editor and money coach for AOL and an authority on investing. Visit her at www.hilarykramer.com

World leader in carbon fiber manufacturing, Zoltek Companies Inc. (Nasdaq: ZOLT) reported strong 2Q 2007 earnings [pdf] on May 4. Net sales increased 40% to $36.7 million. Operating income increased a whopping 87% to $5.9 million, and the company reported a $3 million increase in cash flow compared to the same quarter last year. Zoltek is on a tear, with this quarter's sales increasing 21% from last quarter's sales. The combination of 1Q + 2Q shows net sales increasing by 60% to $67 million, with operating income increasing from $1.4 million to $8.1 million. Zoltek has made tremendous strides in controlling costs and returning to profitability. 2Q 2007 net loss was breakeven per share compared to 2Q 2006 net loss of $27.7 million, or $1.31 per share.

Zoltek is looking forward and planning for much future growth. Two new production facilities in Hungary come into operation in 2Q 2007, with two more new production facilities scheduled to come into operation in 3Q and 4Q 2007. Thus Zoltek will be able to increase productivity at the same time as prices are continuing to increase, generally a happy situation for investors. The increased production capacity will come in handy as Zoltek just negotiated a deal with Vestas Wind Systems to supply $300 million worth of fiber materials over the next 5 years. Zoltek is scheduled to ramp up to annual production of more than 10,000 metric tons of carbon fiber by 2008, compared to 2,800 metric tons annual production currently.

This stock is thinly traded and thinly followed, but may repay investors willing to dig around doing their own due diligence. The stock closed at $35.94 recently, down $0.34.