One money manager's view....

This is just one manager's viewpoint, but it is interesting...

Daniel Rice, manager of the BlackRock Energy & Resources Fund, is the best-performing U.S. equity fund manager of the past decade, according to Morningstar. He's also not afraid to speak his mind, especially when it comes to the subjects of global warming and alternative energy, as revealed in the accompanying video.

Rice paints a "pretty dire picture" of the whole alternative energy industry, with the possible exception of wind, based on the following:

* Global warming patterns have reversed in the past decade, Rice says, citing studies by meteorologist Dr. Judah Cohen, whom BlackRock has on retainer. Ten years is microscopic in geological terms but "you'd better hope global warming is caused by man-made [carbon dioxide] if you're investing in these sectors," he says. "I think that's a huge risk based on some of the evidence that's been coming out."
* Alternative energies are not economical without major government subsidies or a large enough carbon tax. The cap and trade legislation currently being debated is "not enough to do anything," Rice says. "All it does is provide Obama a pass to Copenhagen" where the U.N. is hosting a climate change conference in December.