"Wind power is a source of energy that is a renewable, clean, has a low operating cost and is a technology that's been around for over century," says Ian Cooper.

The small cap specialist and editor of the SC Trading Pit explains, "That's why we're adding a position in First Trust ISE Global Wind Energy ETF (NYSE: FAN)., which lets you own 52 wind stocks at once."

"The nice thing about this ETF is that many of the holdings are non-US companies, meaning they're not reliant on news of green energy tax credits.

"But with the rest of the world investing in wind, we're given wider profit exposure. This is a great way to hold 50 up and coming stocks at $30 a pop.

"As oil prices stay high, the wind power and alternative energy themes are becoming increasingly popular, making the latest exchange-traded fund even more enticing.

"Just recently, the much-anticipated First Trust ISE Global Wind Energy ETF was launched. And not only will investors will have an opportunity to profit from companies in the wind energy business, they can profit from companies that will soon enter the space.

"Sixteen percent of the fund is allocated to the U.S. with some weighting in Denmark, Germany, the U.K. and Spain, including:

• REpowersystems AG - 10.51%
  Vestas Wind Systems - 10.28%
  Gamesa - 8.81%
  Hansen Transmissions - 6.80%
  Japan Wind Dev. Co. - 5.13%
  Babcock & Brown Wind Partners - 4.40%
  Nordex AG - 4.34%
  Theolia SA - 4.28%
  Clipper Windpower - 2.94%
  Gurit Holding AG - 2.81%

"But why are we so bullish on wind? The U.S. isn't the only country interested in wind power. UK ministers want a six-fold increase in the amount of energy generated by wind farms by 2020.

"That would mean that another 4,000 wind turbines would be build across the UK, adding to the 2,000 onshore turbines already in place. Just last month, the government announced plans for another 7,000 turbines off the coast.

"As for the U.S., twenty years from now wind energy could produce 20% of America's electricity. An Energy Department study found that wind energy could generate 20% of U.S. electricity by 2030, as compared to today's 1%.

"The good news - The Energy Department report finds that achieving a 20% wind contribution to U.S. electricity supply would:

1. Reduce carbon dioxide emissions from electricity generation by 25 percent in 2030.
2. Reduce natural gas use by 11%;
3. Reduce water consumption associated with electricity generation by 4 trillion gallons by 2030;
4. Increase annual revenues to local communities to more than $1.5 billion by 2030; and support roughly 500,000 jobs in the U.S., with an average of more than 150,000 workers directly employed by the wind industry.
5. To achieve 20%, wind turbines would have to produce 300,000 megawatts of power, compared to today's generated 16,000 megawatts.

"It's doable. And it should come as no surprise that billionaire investors are lining up for a piece of the coming wind energy boom, including T. Boone Pickens, who believes that by reducing oil imports by 38% would save us nearly $300 billion a year.

"Pickens' Mesa Power just ordered 667 turbines from General Electric to begin a $10 billion wind far project in Texas. When completed by 2014, the wind farm will be capable of producing 4,000 megawatts, or enough energy to power 1.2 million U.S. homes.

"Between 2005 and 2007, both Germany and Spain's wind power capacity experienced impressive growth (about 21% and 51%, respectively). Now look back at the U.S. growth.  Our capacity catapulted nearly 84%.

"Don't think for a second that wind energy is about slow down. Since 2000, wind power production has increased fivefold. Remember that during that period, oil prices have grown nearly the amount.

"Now that a peak oil is starting to get under the global spotlight, we can expect to see a massive interest in renewables like wind energy.

"But it isn't just the past growth that we're impressed with. Over the next two years, the Global Wind Energy Council (GWEC) predicts that the world's installed wind power capacity will practically double. We are bullish on wind power and the new FAN exchange-traded fund."