Is Hydro power the answer to end oil dependancy?

Hydro power is a viable option for many homes across the world. With the size of turbines and "water wheels" shrinking (as well as price) we can now each look to Hydro power as an alternative.

President Obama has pledged to invest over 150 billion in alternative energy, FINALLY someone with out a conflict of interest with Oil.

Frankly I am not sure why the former president was allowed to own so much oil stock to begin with. Why is it a "conflict of interest" did not apply?

Perhaps politicians are above the law?