[ale] [OT][Way OT] Industrial Power Question

Greg Freemyer greg.freemyer at gmail.com
Fri Feb 6 15:02:43 EST 2009


> You can take the tinfoil beanie off on this one. Exxon et
> al are not going to really push solar because solar doesn't
> show up even as a rounding error on their business models.
> The bosses are charged with making their 10% profit without
> a whole lot of risk. Risky profit is going to take a much
> higher level of profit to be worthwhile, and most solar
> schemes that I've heard of are going to take 10 years to
> turn their profit. Not exactly a deal maker. Plus a huge
> percentage of our population really really wants to show
> off with a SUV...

I was talking to a friend in the oil industry over the weekend.

He said Exxon made so much money this year because the "value" of all
their properties went up and they were smart enough not to buy any new
properties during the summer when everything was being valued based on
$150/barrel oil.

OTOH, several of the other big oil firms were not so lucky and have a
bunch of properties they way over paid for on their books now.

Assuming he knows what he's talking about, the whole "profits" issue
for Exxon last year is way overblown.

Greg
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