News

After Decades of Hints, Buffett’s Heir May Now Be More Apparent

Source: By Noah Buhayar, Bloomberg • Posted: Friday, December 8th, 2017

“If I die tonight, I think the stock would go up tomorrow.” That’s Warren Buffett, addressing an arena full of shareholders at Berkshire Hathaway Inc.’s annual meeting in Omaha in May. For more than half a century, he’s made the company his investing canvas, designing an unlikely conglomerate.

GE’s 12,000 Job Cuts Highlight Uneasy Shift to Renewable Energy

Source: By Rick Clough, Bloomberg • Posted: Friday, December 8th, 2017

After spending years building up its gas-power business, General Electric Co. is trying to figure out how to keep pace in a world that’s no longer all that interested in fossil fuels. The plan to cut 12,000 jobs, or almost one-fifth of the power division’s global workforce, underscores GE’s bad bet on an old-school industry as natural gas loses favor and renewable energy gains. The company’s $10 billion deal to buy Alstom SA’s assets two years ago has compounded the pain.

Molded Fiber Glass South Dakota will close its doors in February 2018

Source: By Kayleigh Schmidt, KSFY • Posted: Friday, December 8th, 2017

Less than a year after announcing layoffs, Molded Fiber Glass (MFG) says it’s shutting down the entire facility. This will leave more than 400 people without a job. MFG announced plans this morning to close its doors in February next year. MFG South Dakota broke ground back in 2007 and is the company’s wind blade manufacturing plant. The closure, according to Senior Vice President David Giovannini, is the result of changes in market conditions.

Op-Ed: Clean Energy Advocates: Tell Congress to Stop BEATing Up on Renewables

Source: By Ernie Shea, 25x25 • Posted: Friday, December 8th, 2017

For all of the bipartisan goodwill that was on display at the end of 2015 when Congress reauthorized and extended multiple tax credits for renewable energy technologies, it is disappointing to now see so many lawmakers willing to renege on those agreements.

‘Everything is melting’ — Alaskans plead for help

Source: Scott Waldman, E&E News reporter • Posted: Friday, December 8th, 2017

In Washington, where some lawmakers, the president and a number of his Cabinet members question whether humans are the primary drivers of climate change, Newtok represents the human cost of inaction. Its residents are among the first climate refugees in America. Across town, just in front of the Capitol, a group of Arctic residents and their supporters held a rally opposing the GOP tax bill, which could open up the Arctic National Wildlife Refuge refuge to oil drilling.

Renewable Energy Is Surging. The G.O.P. Tax Bill Could Curtail That.

Source: By BRAD PLUMER and JIM TANKERSLEY, New York Times • Posted: Friday, December 8th, 2017

Wind and solar are two of the fastest-growing sources of power in the country, providing 7 percent of electricity last year. Sharp declines in the cost of wind turbines and photovoltaic panels, coupled with generous tax credits that can offset at least 30 percent of project costs, have made new wind and solar even cheaper than running existing fossil-fuel plants in parts of the country. In different ways, direct and indirect, the House and Senate bills each imperil elements of that ascension. A Senate bill provision intended to stop multinational companies from shifting profits overseas could unexpectedly cripple a key financing tool used by the renewable energy industry, particularly solar, by eroding the value of tax credits that banks and other financial institutions buy from energy companies.

Energy pressures mount on tax bill conferees

Source: Geof Koss, E&E News reporter • Posted: Friday, December 8th, 2017

“This is not just wind and solar, it’s refined coal, there’s a number of businesses very concerned about this and a number of jobs at stake,” he told E&E News yesterday. “We’ll continue to work with the conferees on it.” Efforts to fix the BEAT section come as Republicans are weighing whether to raise the corporate rate to 22 percent from 20 percent — a possibility that is meeting with strong pushback from outside conservative groups, such as the Club for Growth.

China Assumes Green Power Mantle, Leaving Germany, U.S. Behind

Source: By Brian Parkin, Bloomberg • Posted: Thursday, December 7th, 2017

Chinese exports of environmental goods and services surged ahead of Germany and the U.S., according to a report that shows how the climate change fight is shifting international trade. China’s share of the global market for protection against climate change more than tripled over the 13 years leading to 2015, according to the report commissioned by the German government and published by the Federal Environment Office. Germany fell to second place and the U.S. finished third.

East Coast Offshore Wind Is Alive But Cape Wind Project Is Dead

Source: By Steve Hanley, CleanTechnica • Posted: Thursday, December 7th, 2017

Timing is everything. Jim Gordon — who BNEF analyst Amy Grace calls “a visionary” — began planning for a proposed offshore wind farm he called Cape Wind in 2001. He wanted to plunk 130 wind turbines down in Nantucket Sound to provide power to to Cape Cod, Martha’s Vineyard, and Nantucket. The turbines would cover a 25 square mile area and have a capacity of 468 megawatts — enough to power 200,000 homes with clean, renewable energy.

Delaware Considers Possibly Investing in Offshore Wind Turbines

Source: By Brooke Reese, WBOC • Posted: Thursday, December 7th, 2017

While nothing official is on the table at this point, the state of Delaware is considering the possibilities for potential offshore wind options. After the Maryland passed two federal regulation projects in Worcester County for offshore wind farms, now Delaware is taking the first steps to seeing if it could also benefit from the renewable energy source.