FuelCell Energy Inc. is a global leader in the development and production of stationary fuel cells with established partnerships with major power plant developers and power companies around the world. The company recently announced that California Governor Arnold Schwarzenegger signed legislation set to promote continued development and use of alternative energy technologies through 2015; in response, FuelCell said it expects the legislation to boost demand for its fuel-cell products.

Governor Schwarzenegger signed an extension to the Self-Generation Incentive (SGIP) program to extend funding for various clean energy technologies, including FuelCell’s ultra-clean stationary fuel cell power plants.

Since its inception in 2001, SGIP has provided support for roughly 15 megawatts of FuelCell’s Direct FuelCell power plants in California. The program was created to promote on-site production of electricity to alleviate strains on the state’s utility grid while reducing greenhouse gases.

“California has always led the way in the deployment of clean

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State budgets are a shambles. Sales taxes, corporate taxes, personal income taxes and other taxes are being raised all over the country.  The budget problems and consequential taxes will impact municipal bond rates and default risk, and after-tax investment returns on many forms of investment.

California Muni Money Funds:

We have been advising our California clients holding reserve assets in California tax-exempt money funds to consider moving assets to a national tax-exempt money fund or a taxable money fund while California works out its problems.  It’s one thing to take credit risk and interest rate risk in muni bonds intentionally, but if parking cash for safe keeping is the goal, the default risk (albeit perhaps temporary) or the the risk of being paid in IOU’s is just not worth holding reserve in California muni money market funds at this time.

California On The Ropes:

Reuters (June 19, 2009) “California… faces the prospect of a

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Gold had tacked on about $8 by late Thursday afternoon in Hong Kong…which was shortly after the Thursday morning open in London. But four hours later [8:00 a.m. in New York], even this gain was gone. But from that point, however, both gold and silver began spirited rallies. These rallies lasted throughout the entire Comex floor session, but both traded sideways after that…which they’re still doing eight hours after the Globex close in New York. Here’s the current Kitco silver chart. The red line shows yesterday’s trading. You can see that all of the gains were during Comex hours in New York.

The gold chart is similar.

click to enlarge

Both metals gained back large chunks of what they lost on Wednesday. So did the XAU and HUI. Gold was up 1.85% in New York trading yesterday. Silver was up

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Crude Rises Above $62/Barrel; Opel Courtship Down to Three; Unibanco CEO: 4% Second-Half GDP for Brazil; Target and BJ’s Beat Expectations; Obama To Sign Credit Card “Bill of Rights”; California Could Go Broke After Voters Reject Plan; Wall Street Won’t Rehire Many Workers; Indiana Pension Funds File to Block Chrysler Bankruptcy Sale

Crude oil yesterday (Wednesday) rose above $62 a barrel, a six-month high, after the U.S. government released a report that showed inventories fell below forecasts. “The big drops in both crude and gasoline are very bullish,” Nauman Barakat, senior vice president of energy at Macquarie Futures USA Inc., told Bloomberg. “If people were surprised by how fast crude oil moved from $50 to $60, they will be really shocked by how quickly the market will hit $70.”...

Washington, DC - May 21 2009 - As Congress prepares to revise the federal transportation program (SAFETEA-LU), Building America's Future - a national, bipartisan infrastructure coalition led by Mayor Michael Bloomberg, Governor Ed Rendell and Governor Arnold Schwarzenegger

Ronn Motor is an automotive design and manufacturing company focused on building premium, eco-friendly, handcrafted automobiles. The company is attempting to blend the world of exotic performance cars with eco-friendly fuel solutions.

Ronn Motors’ initial automotive project is called the Scorpion – a mid-engine, hydrogen fuel-injected hybrid. The Scorpion features the latest in engine technology from Acura, utilizing the new aluminum and magnesium V-Tech, Type S V-6 motor. This engine produces nearly 300 horsepower stock, and with the company’s twin turbo option, over 450 horsepower.

The Scorpion will feature Ronn’s new and exclusive hydrogen fuel injection (HFI) fuel delivery system. The system provides hydrogen on demand, which is injected directly into the motor. This alternative fuel approach allows the company to increase fuel mileage between 20% - 40% and reduce carbon dioxide (CO2) emissions to nearly zero.

Ronn Motors has received a lot of publicity recently about the Scorpion. In the February

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Three-quarters of the world consists of water, but growing populations, higher living standards, and global climate change have more than a few analysts worried that there still may not be enough to go around.

In fact, water shortages are erupting around the world, from San Diego to Riyadh.

Hundreds of farm workers and locals from all parts of California took to the streets last Thursday as part of a four-day march to protest federal cutbacks in water supplies.

“This is ground zero,” Mario Santoyo, an adviser to the California Latino Water Coalition, told the New York Times. “There’s a human tragedy going on here, and we need water.”

The state of California projected in March that, because of a drought in the state’s Central Valley, as many as 23,700 full-time workers would lose their jobs, and farmers would lose up to $477 million in revenue, The Times

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AUSTIN, TX — (Marketwire) — 04/03/09 — Ronn Motor Company, Inc. (PINKSHEETS: RNNM) announced today the acclaimed H2GO(TM) powered Scorpion(TM), a hydrogen assisted, eco-exotic supercar capable of reaching more than 200 miles per hour and achieving fuel efficient results of 40 miles per gallon, will be featured on Discovery Channel’s upcoming program, “World’s Most Expensive Rides” which is expected to air within the next few months.

Ronn Motors was recently contacted by Discovery Channel requesting the participation of their eco-friendly Scorpion(TM) supercar in the made-for-TV feature. The Scorpion(TM), on location today at the airport in Horseshoe Bay, Texas, has been “put through its paces” and filmed under the direction of New York City-based KAOS Studios.

Ronn Motors CEO, Ronn Maxwell, commented, “I’m very excited and pleased about Discovery Channel’s desire to feature the Scorpion(TM) in their special program. The Company has received a significant amount of interest, attention and press

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AUSTIN, TX — (Marketwire) — 03/26/09 — Ronn Motor Company, Inc. (PINKSHEETS: RNNM) announced today that while the Scorpion(TM) was in Sacramento, California being viewed by Governor Arnold Schwarzenegger, Damon Lavrinc of Autoblog.com conducted an interview, photo shoot and initial driving impression of the eco-exotic car. Mr. Lavrinc’s story and photos can be seen at:

http://www.autoblog.com/2009/03/16/driven-ronn-motor-company-scorpion-the-worlds-first-green-s/

Headquartered in Horseshoe Bay, Texas, Ronn Motor Company, Inc. is a design and manufacturing company focused on the leading edge engineering of environmentally friendly, finely built premium automobiles and “green,” eco-responsible technology. These technology systems include Hydrogen Fuel, Fuel Cells, and Plug-in Electrics and will be incorporated into our automobiles to be made available for aftermarket applications. Our products, coupled with RMC’s core values of a strong sense of ethics, environmental sensitivity and premium quality, position the company as one of the new leaders in an automotive industry transitioning toward fuel efficiency. For

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The late Thursday afternoon rally in gold on the Comex didn’t have much follow-through during Far East trading on Friday. However, activity picked up once London opened for business, and…with the exception of three attempted selloffs that failed…it was a solid up day through London, Comex floor trading, and the Globex electronic trading that followed. Silver’s price pattern was the same as gold’s. As I said yesterday, it was critical that both metals held support above their respective 50-day moving averages…and it’s obvious that they did. Volume yesterday was around 112,000 contracts, net of switches.

The gold ‘point & figure’ chart I posted on Thursday looks entirely different after Friday’s rally…but we ain’t out of the woods yet…as the updated P&F graph below clearly shows.

click to enlarge

Thursday’s open interest changes in gold showed an increase of a very

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