Power and/or data connection in a downhole component

1. A downhole component of a tool string, comprising:

a tubular body intermediate a first and a second end;

first and second collars mounted to an inner surface of the component at the first and second end respectively;

each collar comprising an electrical conductor secured to the collar;

the first collar comprising a bearing surface adapted to slide with respect to the inner surface of the component;

and the second collar being rotationally fixed to the inner surface of the component;

wherein the electrical conductor is in tension between the first and second collars.

2. The component of claim 1 , wherein the downhole component is a drill pipe, drill collar, crossover sub, reamer, jar, hammer, heavy weight pipe, double shouldered pipe, single shouldered pipe, or combinations thereof.

3. The component of claim 1 , wherein the bearing surface comprises a polished surface.

4. The component of claim 1 , wherein the bearing surface comprises alumina, diamond, steel, silicon nitride, cubic boron nitride, ceramics, carbide, titanium, aluminum, chromium, or combinations thereof.

5. The component of claim 1 , wherein the first collar comprises a key complimentary to another key formed in the second collar, wherein the first and second keys are adapted to interlock.

6. The component of claim 1 , wherein the second collar is keyed, glued, brazed, or press fit into the second end.

7. The component of claim 1 , wherein either collar is disposed within a recess formed in the inner surface and held in place by tension provided by the electrical conductor.

8. The component of claim 1 , wherein the electrical conductor is secured within a passageway formed in the collar.

9. The component of claim 8 , wherein the electrical conductor is adapted to rotate within the passageway.

10. The component of claim 5 , wherein the electrical conductor is secured within one of the keys.

11. The component of claim 1 , wherein the electrical conductor comprises a signal transmission element proximate an end of the collar.

12. The component of claim 11 , wherein the signal transmission element is spring loaded.

13. The component of claim 12 , wherein the spring load is generated by a coiled spring, a Belleville spring, a gas spring, a wave spring, an elastomeric material, hoop tension, ramped surfaces, or a combination thereof.

14. The component of claim 11 , wherein the signal transmission element is an optical element, magnetic element, electrically conductive element, inductive element, or combinations thereof.

15. The component of claim 11 , wherein the signal transmission element comprises an electrically conductive center and an electrically insulating periphery.

16. The component of claim 11 , wherein the electrical conductor comprises a venting port proximate the signal transmission element.

17. The component of claim 1 , wherein the electrical conductor is a coaxial cable, copper wire, triaxial cable, twisted pair of wires, or combinations thereof.

18. A method for aligning transmission elements while threadedly joining downhole components, comprising the steps of:

providing a first downhole component with a first collar mounted in a first end;

the first collar being rotationally fixed to an inner surface of the first downhole component;

providing a second downhole component with a second collar mounted in a second end;

the second collar comprising a bearing surface adapted to allow the second collar to rotate with respect to an inner surface of the second downhole component;

providing a first key of the first collar complimentary to a second key of the second collar;

inserting the first end into the second end and rotating them with respect to one another;

aligning the collars such that the transmission elements align by catching the key of the first collar with the key of the second collar as the collars rotate with respect to one another;

rotating the second collar with respect to the second downhole component by allowing the first and second keys to interlock after the key of the first collar catches the key of the second collar;

and bringing the transmission elements into close proximity to each other by continuing to rotate the ends relative to one another until the ends are sufficiently torqued together.