That's what this article thinks.

A creed is a statement or confession of belief — usually religious belief — or faith. So actually, I don't think investors should have anything to do with creeds. It should really be about numbers and rational, independent-minded judgement. Beliefs tend not to be based on data.

However the article wisely points out that a shortcoming of carbon trading ". . . is the political blank space that looms after 2012, when the Kyoto agreement expires. Further moves to curb emissions will follow, but if there is a gap, credit values could slump".

This is a very real possibility. But carbon financing is not the premier financial tool for the alternative energy producer. Typically, they can count on various forms of government support (tax credits, feed-in tariffs, quotas, regulations etc.) and last but not least, a high price of oil that prices in their technology. I almost had to eat my hat on oil prices which as I wrote here were in a new trading range - $60 - $80 - when they dropped below $60. Sadly, the price has recovered back to over $60 due to the assasination of a Lebanese cabinet minister yesterday.

The threat of further unrest and war in the Middle East has a very indirect impact on alternative energy's future and will do so for some time.