Maybe now that Warren Buffett's said it, people will listen.
From today's EEI newsletter:
Buffett Calls Dereg Flawed, Says He'll Look for Utility Investments
At the annual NARUC Convention, billionaire investor Warren Buffett said his company, Berkshire Hathaway, was on the prowl for additional utility investments, the South Florida Sun-Sentinel reported.
. . .
Buffett indicated that deregulation was flawed. Wrote the Sun- Sentinel: "In his view, a deregulated utility operator would be reluctant to maintain excess power-generating capacity, but 'that's not what society would want' from the producer of such an essential commodity."
South Florida [Fort Lauderdale] Sun-Sentinel , Nov. 14.
2 comments:
From what little I know of Buffett, this isn't surprising -- he's always been about the long-term, not short-term cut&run next-quarter profit-taking.
And as we all know, most American deregulation policies -- energy and otherwise -- are all about short-term thinking.
He's very canny and has an excellent bullshit detector.
-- Gummo
(Hecate, please email me at bjacobs73@optonline.net. Mrs. Gummo & I have a CD we'd like to send you.)
Perhaps he'll be ignored, as he was when he opposed tax cuts. He stated that his secretary would be paying a higher rate than he.
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