patrick.net
An Antidote to Corporate Media
1,190,099 comments by 13,851 users - Ceffer, The_Deplorable online now
invite responseComments 1 - 1 of 1 Search these comments
1
Strategist
2017 Nov 20, 3:03pm
Strategist
2017 Nov 20, 3:03pm
"Consider GE's $9.5 billion acquisition of Alstom's power business, which makes coal-fueled turbines used by power plants. The 2015 transaction was GE's biggest-ever industrial purchase.
For GE, the deal represented a doubling down on fossil fuels, even as renewable sources of energy, like solar, were gaining popularity. Not surprisingly, GE admitted this week that Alstom has been a major disappointment, and that its power business is in shambles."
What a stupid thing to do. It was obvious well before 2015 that falling renewable energy costs would soon destroy the coal business. Even the cheaper and cleaner natural gas has no chance of surviving the relentless drop in alternative energy costs.
For GE, the deal represented a doubling down on fossil fuels, even as renewable sources of energy, like solar, were gaining popularity. Not surprisingly, GE admitted this week that Alstom has been a major disappointment, and that its power business is in shambles."
What a stupid thing to do. It was obvious well before 2015 that falling renewable energy costs would soon destroy the coal business. Even the cheaper and cleaner natural gas has no chance of surviving the relentless drop in alternative energy costs.
http://money.cnn.com/2017/11/20/investing/general-electric-immelt-what-went-wrong/index.html