More Geothermal Power Plants on Tap

The nearly pollution-free energy from geothermal heat is getting more attention from governments with good reason -- the U.S. is loaded with untapped underground heat. (I say nearly since some fossil fuels would be needed for drilling and possibly injecting water.)

In rural Lake County Oregon, plans are underway to build a geothermal power plant that could provide energy to 1,000 homes. Chevron Energy Solutions is aiding the study of the potential to build a 1-megawatt plant their that would enable the county to export excess power.

Colorado is exploring its geothermal energy potential, which researchers say could be the 4th largest in the U.S. Every state has some worthwhile geothermal heat although the best resources are in the West. According to an MIT study completed earlier this year, there's enough geothermal energy to provide a substantial portion of the electricity the United States.

Chevron has two geothermal power plants in Indonesia, and in the Philippines, regions with geothermal heat potential are getting special treatment from the government for their potential to stimulate the economy through low-cost electric generation.

Along with Chevron, Calpine is one of the leading geothermal power developers in the U.S. The company is recovering from bankruptcy, so the stock could be a bargain.