Wednesday, August 1, 2012

WSJ: "A $3 Billion Deal Forms New Power Plant Player"

July 31, 2012, p. B1 WSJ by Rebecca Smith.

[Excerpted] Chicago Bridge & Iron Co agreed to by rival Shaw Group Inc in a 3 billion deal that will create one of the world's biggest energy infrastructure companies.

The combined company, to be called CB&I Shaw, will be involved in everything from building nuclear power plants in the US and China to constructing gas-processing plants and oil storage tanks globally...

Majia here: Apparently the parties involved don't read the Financial Times

Financial Times Monday July 20, 2012, p. A1 by Piita Clark

[Excerpted] "Nuclear power is so expensive compared with other forms of energy that it has become 'really hard' to justify, according to the chief executive of General Electric, one of the world's largest suppliers of atomic equipment.
'It's really a gas and wind world today,' said Jeff Immelt....
'When I talk tot he guys who run the oil companies they say look, they're finding more gas all the time. It's just hard to justify nuclear, really hard. Gas is so cheap and at some point, really economics rule,' Mr. Immelt told the Financial Times in an interview in London....

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