Although an unseasonably warm winter season has contributed to a recent dip in U.S. fuel prices (http://www.foxnews.com/story/0,2933,245459,00.html), our energy crisis is far from over. With oil hitting a record high of $78.40 on the NYMEX (7/13) and an estimated 60,000 premature deaths occurring each year as a result of air pollution (U.S. Lung Association), from both an economic and humanitarian perspective, the country’s energy situation is in dire need of remedy.

Using approximately 25% and 40% of the world’s total oil and gasoline production respectively, while producing far less, the U.S. is the world’s largest consumer of oil. As we continue to guzzle gas at a record rate and increasingly rely on foreign energy, the need to produce both traditional and alternative fuels domestically as at an all time high.

For this reason, I feel that organizations currently equipped with either established oil & gas prospecting operations or cutting edge alternative fuel technologies are positioned for significant growth. Two such organizations are US Energy Initiatives Corporation (OTCBB: USEI) and Engergas Resources (OTCBB: EGSR).

USEI, an ISO-9001 certified manufacturer of patented dual-fuel diesel engines, has morphed from a fancy idea to a leading supplier and is now forecasting significant shipments in ’07 (http://biz.yahoo.com/iw/070118/0204817.html). With agreements in place with General Motors and other international partners, 2007 has all the makings of a record year for USEI.

EGSR on the other hand has been hard at work over the past few years developing an entrenched presence in the U.S. energy industry. Now boasting resource bearing operations in some of the country’s most lucrative petroleum and natural gas bearing regions such as Oklahoma and Wyoming, EGSR is well-poised for future growth.

These are two interesting energy ventures south of a dime that may be worth checking out. Check back soon for updated profile coverage.