Saturday, September 25, 2010

GE's Immelt: America employing 'stupid' energy policy

GE's Immelt: America employing 'stupid' energy policy

At a conference on energy in Washington DC, General Electric's CEO Jeff Immelt blasted what he sees as 'stupid' U.S. policies on future energy usage and consumption.

Jeff Immelt, CEO of U.S. conglomerate General Electric, is facing competitive pressure in China and in Europe in the nuclear power plant arena and in modern electricity distribution infrastructure projects. His issues overseas have also driven him to reflect on the Obama administration's approach to the American business community, and what he has found there has caused him to openly question the U.S. government.
Mr. Immelt is now convinced that American energy policy is wrongheaded - and that the United States is falling behind China in modern energy reform and in projects that include electric vehicles and wind-powered alternatives.

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