18 September 2008

What Warren Buffett Is Having

Warrent Buffett has purchased Constellation Energy for $4.7 billion in cash.
Billionaire Warren Buffett on Thursday said MidAmerican Energy Co. would buy Constellation Energy Group for $4.7 billion in cash -- a discount of nearly 60% from levels at which the ailing power firm's shares were trading just days ago. _MarketWatch_via_TomNelson
Here is a list of Constellation's energy holdings:
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. 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] _Source_via_TomNelson
Looking over the list of energy assetts, fickle wind power is conspicuous by its absence. Wind power is often listed as a great hope of the future--by idiots and airheads like Nancy Pelosi. The Democrats in the US Congress have brought the US to a most perilous and vulnerable energy state.

The recent offshore oil drilling bill is total illusion, meant to impress saps and fools unable to look beneath surface layer news. Yet it is the most that the Democrats have managed to do since they took an iron-fisted control of the Congress almost two years ago. If Obama messiah is elected with a strong Democratic majority in congress, expect US energy to hang by tenuous threads. People such as Buffett may be all that will be left standing between political energy starvation and the people of the US.

The US Democratic Party has fallen into the hands of religious fundamentalists of the faux environmentalist variety--Holy Warmers! Holy warmers believe in human sacrifice to their gods of faux environmentalism, such as climate change and peak oil. By gearing policies around a belief in catastrophic anthropogenic global warming, they actually create political peak oil. Holy Warmers specialise in self-fulfilling prophecies, and in falsifying data of the pseudo-scientific variety. Barak Obama is an ideal messiah for Holy Warmers, adored by cultist the world around.

Fortunately, there are places where curious truth seekers can go to understand what is happening behind the media and religious smoke screens blown by politicians and celebrity members of the Holy Warmer Orthodoxy.

Labels: ,

Bookmark and Share


Blogger SensibleEnergy said...

Obama says Buffet is his friend.

Thursday, 18 September, 2008  
Blogger al fin said...

Personal is personal. This is business.

Thursday, 18 September, 2008  
Blogger mnuez said...

Well, it's slightly more than that. Buffet is a proud and public supporter of Obama's campaign for the presidency and he's reportedly been advising him these past few days regarding economic policies.

None of which is to say anything about energy in particular being as Buffet may be supporting Obama for other reasons (healthcare for all and whatnot) but it does seem important to note that Buffet isn't Obama's "friend", he's a serious supporter.

Sunday, 21 September, 2008  
Blogger al fin said...

Buffett also gave a lot of his money to the "down the rathole" Bill and Melinda Gates foundation. All of which implies that as shrewd as Buffett may be in one compartmentalized part of his life--the part that makes money--he can be as foolish as anyone else in other of his compartments.

I prefer to focus on the one area where Buffett has demonstrated competence.

Monday, 22 September, 2008  

Post a Comment

“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

<< Home

Newer Posts Older Posts