Time for Old Energy Firms to Become New Energy Firms

DECEMBER 7, 2017 – GE Power (NYSE: GE) today announced that it plans to reduce its global headcount by approximately 12,000 positions…The plans announced today are driven by challenges in the power market worldwide. Traditional power markets including gas and coal have softened. Volumes are down significantly in products and services driven by overcapacity, lower utilization, fewer outages, an increase in steam plant retirements, and overall growth in renewables. WTF!!!

GE is the father of energy, starting with Edison’s light bulb, growing to one of our largest corporations with a huge research and development department managed by executives who make millions to steer the ship.  I’m thinking these big-time managers, with their lack of innovation, planning and a stubborn bond to yesterday’s energy sources like coal, fell asleep because they let down those laid off employees.  A corporate executive’s main job is to be on top of future trends and make sure the company is positioned to be the leader in new technology to both profit the company and insure a stable workforce.

GE and other traditional large energy companies have been treading water when it comes to alternative energy.  How can a startup like Tesla have the latest and greatest battery technology while a giant like GE burns coal and natural gas, continuing to squeeze out the last of the fossil fuel money.  Tesla’s battery innovations got a Puerto Rico Hospital powered up after Hurricanes Irma and Maria.  Where were the other major energy companies and why is there a Space X and not a Space GE?

It’s time for all our energy companies to embrace the future and use their vast resources to give us all the latest and greatest clean alternative energy.  With a more visionary energy policy and the right leadership, all the major players have the tools to rocket us into a whole new energy era.  Imagine a world with no vulnerable, inefficient power lines and each home or business having its own clean energy generator leaving the coal supply for Santa to fill up the stockings of the alternative energy obstructionists.cartoon-santa putting coal in trump stocking