I don't think Buffett himself chose these investments, so it's just namebaiting to mention him in the headline. Since these plants run at a loss (coal power in the US is notoriously lossy), I'd say they're either part of a larger energy portfolio or they're a strategic investment in anticipation of dropping in a modular nuclear reactor. There's quite a compelling business case for converting older coal-fired stations this way, as most of the infrastructure (steam turbines, transformer yards, HV transmission lines) is already in place.
If only the world’s richest man (sorry maybe top three to five I lose track) could afford to clean them up a bit. It’s actually not hard to add catalytic converters. Costs a bit but isn’t hard.
They need to shut them down, but this would mean they’d lose money on their investment not paid back (unless securitized, where bonds are issued to buy out the remaining debt to shut them down, and ratepayers paying that off over the next 20-30 years).
Every coal plant in the US is uneconomical to continue to run (vs replacing with renewables) except the one in Dry Forks, WY.
I don't think Buffett himself chose these investments, so it's just namebaiting to mention him in the headline. Since these plants run at a loss (coal power in the US is notoriously lossy), I'd say they're either part of a larger energy portfolio or they're a strategic investment in anticipation of dropping in a modular nuclear reactor. There's quite a compelling business case for converting older coal-fired stations this way, as most of the infrastructure (steam turbines, transformer yards, HV transmission lines) is already in place.
That’s great. I’m glad to own stock in a company that complies with what US environmentalists, who oppose nuclear and wind, implicitly support.
If only the world’s richest man (sorry maybe top three to five I lose track) could afford to clean them up a bit. It’s actually not hard to add catalytic converters. Costs a bit but isn’t hard.
They need to shut them down, but this would mean they’d lose money on their investment not paid back (unless securitized, where bonds are issued to buy out the remaining debt to shut them down, and ratepayers paying that off over the next 20-30 years).
Every coal plant in the US is uneconomical to continue to run (vs replacing with renewables) except the one in Dry Forks, WY.
https://cleanenergyforum.yale.edu/2022/01/17/explainer-how-c...
https://energyinnovation.org/report/the-coal-cost-crossover-...
Saving the planet is not in the corporate charter, sorry.
Actually they do have stuff about that on their website https://www.brkenergy.com/esg-sustainability/environmental
They are the US's second largest investor in renewables and re coal:
>...has ceased coal operations at 18 coal-fired power stations. The company plans to cease coal operations at 15 more stations between 2025 and 2030.