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To track the price of oil, you can use USO, OIL, UCR, and DBO. Which is my favorite? They are all different, so I chose a mix of all of the above (my positions are large enough, and I'm holding them for long enough, that the $7 trade cost is small enough) That way so long as the price of oil goes up, the combination is a hedge against the risk that one ETF's* strategy might backfire, and thus the overall mix of all of these should be safer, IMO.

* Disclaimer: put "ETF" in quotes since some above are ETF, some are ETN, and UCR (do a thorough google or search for our posts) is yet another kind of creature.

For energy overall, DBE (as opposed to DBO) tracks oil, gasoline, NG, etc.

Is there a reason you prefer ETFs and their relatives rather than mutual funds?

I also own GASFX, a mutual fund related to Natural Gas.

For alternative energy I've owned NAFLX, the New Alternatives Fund, risky but pretty close to pure play so with money you're not going to lose sleep over, it's worth a try..they have had terrible years (luckily before I bought) and recent years have been good.

There are many others like Green Century but look at their holdings and they are not very renewable energy after all..while NALFX is.

There is also PORTX (high minimum but smaller min if in your IRA) and a careful reading suggests this is more for things like capturing energy efficient, and other types of efficient companies, who can financially gain an advantage from those other, less sexy but just as important types of "green" than the pure renewable energy companies.

Hope the above helps.

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