Environment & Energy

FBaggins

(26,721 posts) Tue Jun 10, 2014, 09:24 AM Jun 2014

Buffett Ready to Double $15 Billion Solar, Wind Bet

Warren Buffett briefly lost track of how many billions of dollars his Berkshire Hathaway Inc. (BRK/A) is spending to build wind and solar power in the U.S. That didn't stop him from vowing to double the outlay.

Describing the company's increasing investment in renewable energy at the Edison Electric Institute's annual convention in Las Vegas yesterday, Buffett had to rely on a deputy, Greg Abel, to remind him just how much they'd committed: $15 billion.

Without missing a beat, Buffett responded: "There's another $15 billion ready to go, as far as I'm concerned."

http://finance.yahoo.com/news/buffett-ready-double-15-billion-040007991.html

4 replies

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Buffett Ready to Double $15 Billion Solar, Wind Bet (Original Post) FBaggins Jun 2014 OP

"I will do anything that is basically covered by the law to reduce Berkshire's tax rate," PoliticAverse Jun 2014 #1

That's what tax credits are supposed to do. FBaggins Jun 2014 #2

Wow, there's a great source for wisdom on wind caraher Jun 2014 #3

It's probably pretty simple FBaggins Jun 2014 #4

PoliticAverse

(26,366 posts)

1. "I will do anything that is basically covered by the law to reduce Berkshire's tax rate,"

Reply to FBaggins (Original post)

Tue Jun 10, 2014, 09:58 AM

Jun 2014

"I will do anything that is basically covered by the law to reduce Berkshire's tax rate," Buffet told an audience in Omaha, Nebraska recently. "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."

From: http://www.usnews.com/opinion/blogs/nancy-pfotenhauer/2014/05/12/even-warren-buffet-admits-wind-energy-is-a-bad-investment

FBaggins

(26,721 posts)

2. That's what tax credits are supposed to do.

Reply to PoliticAverse (Reply #1)

Tue Jun 10, 2014, 10:04 AM

Jun 2014

Induce businesses to take actions that we want them to take that they otherwise wouldn't (or to make those decisions earlier than they otherwise would).

caraher

(6,278 posts)

3. Wow, there's a great source for wisdom on wind

Reply to PoliticAverse (Reply #1)

Tue Jun 10, 2014, 03:13 PM

Jun 2014

Nancy Pfotenhauer is president of MediaSpeak Strategies, a national communications firm. She was a senior policy adviser and spokesperson with the McCain for President campaign, and has served as president of the Independent Women’s Forum, director of the Washington office of Koch Industries, a cabinet level adviser, economic counsel to Sen. Armstrong, and chief economist for the RNC, then serving on President Bush’s transition team in 1988

She also says she's on the board of Americans for Prosperity.

Why is it that Republicans are so anti-wind? And why they only care about birds and bats that die at the hands of wind turbine blades?

FBaggins

(26,721 posts)

4. It's probably pretty simple

Reply to caraher (Reply #3)

Tue Jun 10, 2014, 03:18 PM

Jun 2014

There aren't many wind companies that have been profitable in large enough amounts (and for a long enough time) to have much of a budget for influencing legislators.

Therefore... you'll only get support from legislators who don't require a dollar sign in order to support an otherwise worthwhile idea.

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