One can only note the irony that on the day that Global warming activist Al Gore is supposed to testify before the Senate Foreign Relations committee, a huge snowstorm is expected which may delay the hearings.

According to a Drudge report: “I can’t imagine the Democrats would want to showcase Mr. Gore and his new findings on global warming as a winter storm rages outside,” a Republican lawmaker emailed the DRUDGE REPORT. “And if the ice really piles up, it will not be safe to travel.”

With more and more data coming out that the world is actually cooling, global warming fans have changed their mantra to ‘climate change.’ Nice way to hedge your bets.

What none of them admit though, is that none of this is man made. It’s the pinnacle of human arrogance to think that we are creating all of these problems. The earth has been around much longer than the 60 or so years that Gore has graced this earth, and the earth has warmed and cooled, and been through all kinds of climate change, long before industry polluted and SUV’s were created.

Maybe the forecasted snowfall to rain on the Gore parade, is God showing us his sense of humor?

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As 2008 comes to a close, let’s take a look back at the predictions this pundit made a year ago. Let’s start out with some of my correct calls:

1- At some point during the year the price of crude oil will trade below $75 a barrel. This will be great for the consumer as they save a lot of money at the pump, and will cause a crashing of many alternative energy stocks, especially the Solar plays like First Solar(FSLR).

Nailed that one!

4- Late in the summer the current Israeli government headed by PM Ehud Olmert will fall, and new elections will be called.

Many will say that was a no-brainer.

6- The earth will cool, there will be no global warming.

Just look outside your window.

Now for some of the less accurate predictions:

2- There will be no recession in the US economy, despite the best efforts of the media to “will” one. While the economy should slow somewhat during the first half of ‘08, the economy will grow enough to stay out of a recession, and the second half of ‘08 should bring back 4+% GDP growth.

Oops!

3- The Rudy Giuliani/John McCain ticket will surprisingly win the US presidential election. With Republicans given virtually no chance to hang on to the White House, with a strong economy and the continued  new-found success of the war in Iraq, they not only win but win back control of Congress as well.

So I missed a few on this one.

All in all not too bad. Stay tuned for ‘09 predictions.

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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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With the Democratic National Convention in full swing, expect much attention focused on alternative energy, Cleantech and environmental issues. After all, House Speaker Pelosi has mentioned that her goal is to save the planet and Al Gore will show up and do his usual speech on how global warming will destroy the planet if we don’t do anything ASAP. I don’t want my cynicism to show through but have the DNC and Obama’s organizers taken any measures to ensure that this convention is environmentally friendly? How much energy is being used to run the event? Just asking.

Anyway, a great article out in the Jpost today about how Israel is on the way to being a world leader in Cleantech. While Shai Agassi’s electric car initiative has gained many headlines around the world, Israel is also very quietly making strong inroads, in solar and water technologies. The article focuses on how Israel is developing the technology for the purpose of letting larger nations do the implementation. Much like the current technological revolution, Israel has been behind many of the advances that have powered us forward. The view is that Cleantech will be Israel’s next boom industry as technologies will be developed that power a move away from crude oil towards alternative energy sources.

The article quotes Isaac Berzin, an expert in using algae to curb greenhouse gases: “Israel should be a world leader - creating the solutions the world is looking for. Investments are coming to Israel [as a result] and lots of jobs are created. Let’s say you develop a major solar technology, which is cost effective etc. What’s the demand for electricity in Israel? A small fraction of world demand. If your only output is Israel then you are in trouble. Hi-tech was great for Israel. Where were the markets? Out there, which is absolutely fine.”

It’s interesting that the one thing Israel lacks is natural resources. The one thing Israel has loads of is brainpower, ingenuity and entrepreneurship. Isn’t it ironic that Israel is using its’ main resource to try and level the economic playing field by developing technology that will greatly lessen the need for natural resources.

Please see our Disclaimer HERE.

Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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Save the world, enough with crude,
Drill offshore now? hey, surf’s up, dude.
Warming planet, costly food,
Oil firms with attitude,
The ‘wakening has been quite rude.

“It’s our own fault”, we like to say,
Our cars, our wars, and our hairspray,
Now waves, wind, solar–are in play.
Renewables will save the day,
Drive SUVs? get locked away.

“But it’s just nature,” others cry,
We are not about to die.
There’s still ozone in the sky,
Temperatures are not so high,
They aim to tax both you and I.

Soon we’ll turn another page,
Global cooling they will gauge.
Environmentalists will rage,
“We’re entering a new ice age!”
Is that judgment any more sage?

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Aaron Katsman is Managing Editor of the Israel Opportunity Investor newsletter. He is lead portfolio manager for the Israel Growth Portfolio and Managing Director of America Israel Investment Associates, LLC. For more information, go to www.israelnewsletter.com or call 1-888-327-6179, or email aaron@profile-financial.com.

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