Thursday, September 18, 2008

Buffett invests in another energy company

When the Oracle of Omaha is investing in nuclear and fossil energy, why should bureaucrats bet massive amounts of our public money on solar and wind power?

Warren Buffett buys Constellation Energy Group for $4.7 billion in cash
"MidAmerican has been a wonderful steward of its energy assets and the acquisition of Constellation Energy, when completed, will prove beneficial to all constituents," said Warren E. Buffett, chairman, Berkshire Hathaway.
Constellation Energy - SourceWatch
Out of its total 9,614 MW of electric generating capacity in 2005 (0.90% of the U.S. total), Constellation produces 44.2% from nuclear, 28.3% from coal, 13.0% from oil, 8.7% from natural gas, 4.7% from hydroelectricity, 1.2% from biomass, 0.2% from geothermal, and 0.1% from solar [what about wind?]. Constellation owns power plants in California, Maryland, New York, Pennsylvania, and Utah; 59.1% of its generating capacity is in Maryland, and 25.2% is in New York.[3]

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