"An estimated 300,000 people journeyed to the western United States during the California Gold Rush to strike it rich. The thought of finding gold and becoming wealthy overnight was (and is) a tremendously sexy idea, even if few people harnessed the skills required to be successful. Ironically, the skills and businesses that were most common – sewing, gambling houses, laundry, etc. – were also the most profitable. In other words, the less obvious the business the more successful it became.
I can see a similar scenario playing out before investors today. Each type of alternative fuel that society creates – a biofuel, compressed natural gas (CNG), hydrogen, or even compressed air – claims to be a petrol killer and a modern day gold mine for investors. In reality, a combination of fuels will contribute to the energy hungry societies of the future, but it is much too early for investors to pick the winners. So instead of throwing money directly at the obvious, why not seek out less obvious, future-enabling investments?".........................
