Saturday, April 16, 2016

Buffet Buys Billions Worth of Wind Turbines - Again

Subtitle:  Buffet Once Again Passes on Nuclear - Builds Wind Energy

"MidAmerican Energy Co. said Thursday that it is planning to build up to 2,000 additional megawatts of wind turbines with a goal of generating 85% of its power from wind."  The project is to cost approximately US$3.6 billion.   -- WSJ  "MidAmerican Energy Makes Big Bet on Iowa Wind"  see link

Wind Results in Lower Prices

"Iowa consumers pay about 10 cents a kilowatt-hour for power on average, compared with 12 cents nationwide, according to the Energy Department. Large commercial and industrial customers in the state pay about 5 cents to 8 cents a kilowatt-hour, on average, compared with 6 cents to 10 cents nationwide."  -- WSJ article linked above. 

MidAmerican Energy is owned by Berkshire Hathaway, of which the CEO and Chairman is Warren Buffet, renowned billionaire investor.    As written before on SLB, Mr. Buffet is certainly capable of purchasing, or building, a nuclear power plant.   However, he knows which technology is profitable and elects to spend his billions on wind-turbines. 

Roger E. Sowell, Esq.
Marina del Rey, California
copyrignt © 2016 by Roger Sowell, all rights reserved

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