And a number of anti tobacco advocates argue that the devices, which vaporize liquid nicotine for inhalation, are less a smoking cessation device than they are a tactic to lure in younger customers.

But now, in a move likely to rile up anti smoking advocates, the European Parliament rejected a proposed ban on the sale of e cigarettes alongside most other tobacco products. Advocates of the ban favored classifying e cigarettes as medicines, subjecting them to much harsher regulation. Had the ban succeeded, many countries would have only permitted their sale in pharmacies or even required a prescription.

On one side, advocates of e cigarettes decried and even protested the ban. Long time nicotine addicts say that making them more difficult to find will lead to more tobacco related deaths, by restricting access to what they say is a more healthy alternative.

In a move that almost calls to mind the now hilariously misleading advertisements from the 1950s, a coalition of French doctors denounced the possible ban, calling e cigarettes “infinitely safer,” and an important part of the country&#39 s tobacco cessation efforts.

But on the other hand, a lot of people, including the World Health Organization, are skeptical. (Let me reiterate that much more skeptical.) They say the health effects of the devices have yet to be determined, and need to be meticulously studied before their availability is allowed to spread.

Investing ideas

In light of the EU&#39 s decision, momentum seems to be pushing solidly against the anti smoking side. One of the biggest cigarette companies, Lorillard (LO) is buying up e cigarette brands like hot cakes.

Lorillard already owns Blu, one of the largest e cigarette companies in the US, and recently announced the purchase of another brand in the UK. Two companies that exclusively make e cigarettes are already trading on pink sheets.

The other big names in tobacco, Altria (MO), Reynolds (RAI), and British American Tobacco (BTI) have all bought patents for technology related to e cigarettes, and started working on brands themselves. And analysts are projecting that the market for e cigarettes will be twice the size in 2013 as it was in 2012.

That being said, e cigarettes are still relatively unstudied. Attorneys General from 40 states have started pressuring the FDA for details on how to move forward (although the government shutdown isn&#39 t making this very easy).

Given their status as a smoke less alternative to help you quit the normal ones a single study with negative findings on e cigarettes could send the whole thing up in smoke.

European union goes light on e-cigarettes

Electronic cigarette brand reviews 2014

Electronic cigarettes won&#39 t be tightly regulated as medical devices in Europe, lawmakers there decided.

Officials had proposed restricting direct sales to consumers, classifying the devices alongside nicotine patches and other smoking cessation products that require a prescription.

The European Parliament struck down that proposal, though, voting Tuesday to regulate them much as they do conventional cigarettes, with only the usual marketing, packaging, and 18 and older age restrictions.

While the lawmakers also voted to tighten restrictions on smoking tobacco packaging and menthol flavoring, e cigarettes were considered the main question.

In the U.S., the FDA is also weighing how to deal with the increasingly popular nicotine vapor devices

The agency has said it will issue proposed regulations on e cigarettes soon, a move that was widely expected by the end of October but may be delayed by shutdown related furloughs at the chronically understaffed agency.

It tried to regulate e cigarettes as medical devices but acquiesced in 2011 to an appeals court ruling that as long as no health claims are made for the products they only fit under the agency&#39 s authority to regulate tobacco.

Individual European Union member states have attempted to quash sales through tight regulation or outright bans, but these have typically been struck down by legal action.

The amended Tobacco Products Directive now has to be agreed upon by E.U. government ministers and voted on again by the parliament, but no meaningful opposition is expected.

These moves have been carefully watched as other public health agencies around the world are trying to get a handle on e cigarettes, which are often targeted to smokers wanting to quit.

A recent study indicated the devices were at least equal to nicotine patches in that regard, although other studies show there still is an impact on lung function despite elimination of carcinogenic tobacco smoke.

The FDA has previously warned e cigarette manufacturers against making claims that the devices help smokers quit.

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