Bailout Buffett: The Sage of Solar

By, Chris Rossini
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Bailout Buffett is quite the capitalist crony operator. Has anyone written a book about him yet? He's clearly the personification of The American Dream.

While we're on the subject of The American Dream, we should all take a moment to reflect and give thanks for the sacred right to actually choose who will rule over us every 4 yrs.

These wise and all-knowing rulers not only make sure that we are safe, healthy and happy, but also think global.

As all good citizens know, Obama is the climate candidate. Yes, I know what you're thinking...How can a man, who is busy running a world military empire, while keeping us all safe, healthy and happy, have the time to control the climate too?

Well, that's what makes a great leader. We just have to trust.

Thankfully Obama has some help in his valiant quest on stopping the climate from changing. He has partners, like Warren Buffett.

The Wall Street Journal fills us in:

Obama supporter Warren Buffett, meanwhile, has suddenly emerged as America's second biggest solar operator.

What a guy! Buffett sees the light (no pun intended). He's decided to risk his own capital to help save us from the climate.

Except, in this case, "risk" is for suckers.

California utilities are under legislative mandate to get 33% of their electricity from renewable sources by 2020.

Twenty-nine other states also have similar mandates.

What can be better than circumventing the market, and having the law say that people must use your good or service? It's like having your own printing press!

It gets even better for Buffett.

Utilities are already signing contracts for the renewable energy. And guess what? The cost is way higher than current market prices.

...utilities have been rushing to sign overpriced contracts that have already locked-in $6 billion in above-market costs for California electricity users. ...59% of contracts feature a price at least half-again higher than available conventional energy.

Sucker U.S. customers are forced by law to buy the stuff, and they're going to pay through the nose for it!

Which utility has been most lavish? Pacific Gas & Electric, which Mr. Buffett will be selling to.

High-Five!

The American Dream lives.