A significant untapped renewable energy source exists in the world's oceans: it is estimated that if 0.2% of the oceans' untapped energy could be harnessed, it could provide power sufficient for the entire world. This presentation discusses the opportunities for ocean wave power to become a new, reliable and clean source of affordable renewable energy. Wave energy research and developments at Oregon State University (OSU) will be presented, in addition to the developing opportunities for the State of Oregon to become a leader in wave power.