Wednesday, November 04, 2015

Another Green Booster Mugged By Reality

Check out this story...this is happening all over.
NRG Chief’s Green Ambitions Are Put on Back Burner
Money-losing investment in renewable energy didn’t sit well with investors
Throughout its 26-year life, NRG Energy Inc. NRG 7.34 % has made most of its money by running big electric plants that burn fossil fuels. But six years ago, the company’s chief executive began a billion-dollar push into clean power: rooftop solar, wind farms and electric-car charging stations.
And David Crane, the CEO, became increasingly outspoken about the need to go green. In an essay earlier this year, Mr. Crane warned his fellow electricity executives that by failing to embrace clean energy they “are losing the hearts and minds of the future generation of Americans.”
From higher energy bills for consumers, to zero returns for investors to lack of development in the developing world, "green" energy is coming out a loser and getting ratcheted back.

Finally, your euphemistic gem of the day:
 “There was a mismatch between what investors wanted us to do with our cash—which was give it back—and what we wanted to do, which was put it in growth businesses,” Mr. Crane said.
Translation:  Stop wasting our money on these stupid green projects.


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