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Kevin Consiglio's picture
Analyst, FirstEnergy

Have worked a total combine over 5 years.

  • Member since 2020
  • 1 items added with 786 views
  • Nov 16, 2020
  • 786 views
Discussions
Matt Chester's picture
Matt Chester on Nov 16, 2020

Is there something that we should read into the tea leaves with this, or nothing really beyond Buffet knowing how/when to jump at a particular deal of a price? 

Bob Meinetz's picture
Bob Meinetz on Nov 17, 2020

Tea leaves, Matt? Nothing that mystical. The first thing Buffett will do is shut down Perry, Davis-Besse, and Beaver Valley nuclear plants and replace them with gas generation. It will add oh, about 50 million tonnes of CO2 to the annual emissions of Ohio and Pennsylvania.

From July:

Warren Buffett bets $9.7 billion on a long future for natural gas

"But...but...maybe Buffet sees a big future in wind?", our renewables friends might speculate. Don't count on it:

"For example, on wind energy, we get a tax credit if we build a lot of wind farms. That's the only reason to build them. They don't make sense without the tax credit."

Buffett and Bloomberg: two aging billionaires who couldn't care less what dystopian world their grandkids will inhabit.

 

Kevin Consiglio's picture
Thank Kevin for the Post!
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