The Los Angeles City Council voted this week to eliminate fossil fuels by 2035 from the previous decade. It is a city in a state, but the decision has implications for the entire country and for many businesses – in particular
The transition, however, does not mean a loss for construction – a chance.
General Electric (Applicant)
) Builds a wide range of equipment for natural gas-fired power plants. In fact, when natural gas is burned, the main source of carbon dioxide – the gas responsible for climate change. A generation that burns faster than expected could pose a problem for GE’s energy business.
“A customer who buys a 40-year-old property does not want to have something to write about after 20 years,” says William Blair, an analyst. Power plants are expected to last longer, and equipment buyers today need to think about what power plants will burn in 2050 and beyond – and how much fuel they will charge.
Stephen Morgan, an analyst at JP Morgan, is worried about the GE energy trade, as there will be a transition to renewable energy. “There are almost daily reminders of long-term global challenges in fossil fuels, including gas,” he said in a report on Friday.
Tusa is a long-time GE bear, however. It pays dividends and has the lowest price target on the road at $ 40, partly due to “structural concerns in key energy markets.” Haiman is not a negative. He buys GE shares, but has no price target. (Buying for Blair means that shares must outperform the market.)
Heimen noted that 50% of GE sales now come from carbon-reducing technologies. “I don’t think GG has flat feet,” the analyst added.
Gee has a renewable energy business and is a major manufacturer of wind turbines. And according to Jima, GE turbines cannot be outdated because the company is working to “make H-stage turbines run on hydrogen.”
H-level turbines are basically a new generation of new turbine technology for power generation, and produce more energy efficiently. Geo has signed a number of agreements to make their turbines run on hydrogen, the October 2020 project for the Ohio Institute and the July 2021 pilot project for New York State.
Most hydrogen is made from natural gas. However, green hydrogen can be released from a renewable energy source, such as a wind turbine, in the water. Hydrogen gas is more expensive today than natural gas, but costs will eventually go down. Companies like H2 Pro are working to provide hydrogen gas at MMBtu for less than $ 2 – a unit that sells natural gas.
Meanwhile, natural gas is far from dead. It emits less carbon dioxide when burned than coal. Natural gas has helped reduce US energy emissions by 33% since 2007, according to the Energy Information Administration. That was accomplished by converting coal into gas.
A lot of coal is still being burned to generate electricity. Coal produces about 35% of the world’s electricity, and the United States accounts for about 19%. When it comes to coal, the world is lagging behind the United States, but some of the gaps are being replaced by coal-fired power plants.
GE Renewable Energy Trade It generated sales of $ 15.7 billion by 2020. The energy trade, including gas, generated about $ 17.6 billion in sales.
GE stock seems to be responding slightly to the California news, and the double seems to have been taken from Tussauds. Shares fell 0.7% as of Wednesday. Of
About 0.3% over the same period
Dow Jones Industrial Average
It is flat.
Write to Al Root at firstname.lastname@example.org