Giant oil company buys giant solar company

[one...two...tree 2,762]

What's Exxon going to do with this years' record-breaking profits? If you said "buy a 60 percent stake in America's largest solar panel manufacturing company," you have wildly underestimated the degree to which its CEO would find that profoundly emasculating.

Cheese-eating surrender-monkeys have no such qualms, however, which is why French oil giant Total just dropped $1.38 billion on SunPower, a "stalwart U.S. solar manufacturer in Silicon Valley."

This isn't the first time a foreign company captured a large swath of the assets of a U.S. renewable energy firm. As Todd Woody reports, it happens all the time:

European energy conglomerates have been on the prowl for U.S. acquisitions to expand their portfolios of renewable energy companies.

French nuclear giant Areva last year acquired Ausra, a Silicon Valley solar thermal power plant maker, while Japan's Sharp bought Recurrent Energy, a San Francisco commercial solar installer and power plant developer.

Could it be that these companies are a little more forward-thinking than America's energy giants? Probably the answer is something like "Hey, we saved your a$$ in dubya-dubya 2, so shut up."

• straight to the source
  
• French Energy Conglomerate Total to Acquire Control of Solar Panel Maker SunPower, Forbes
• French Oil Giant to Buy Majority Stake of SunPower for $1.38B, GigaOm

Edited April 29, 2011 by 8TBVBN

[Obama 2012 1,714]

Here's Steven's logic:

American Company refuses to buyout other American company = Un-American!

Foreign Company buys out American company = Great Success and englightened!

Stop and think about it for a second:

Now all of that money will be going overseas that those companies make instead of staying right here at home to be re-invested here at home.

ExxonMobil is an oil company. Why should they buy a solar company? They already bought XTO energy, so they do buy companies... Just not the ones you want I suppose.

You can cheer the foreign investors all you want and scoff at ExxonMobil, but the fact of the matter is the American company that sold themselves out is the one doing the true disservice to everyone.

[Vi-Jay 218]

1. This is one reason to keep the dollar down. Bring in the foreign investments!

2. Didn't you, very recently, up a thread about the pentagon and alternate energy?

Edited April 29, 2011 by Vi-Jay

[Zero Sum 305]

Here's Steven's logic:

American Company refuses to buyout other American company = Un-American!

Foreign Company buys out American company = Great Success and englightened!

Stop and think about it for a second:

Now all of that money will be going overseas that those companies make instead of staying right here at home to be re-invested here at home.

ExxonMobil is an oil company. Why should they buy a solar company? They already bought XTO energy, so they do buy companies... Just not the ones you want I suppose.

You can cheer the foreign investors all you want and scoff at ExxonMobil, but the fact of the matter is the American company that sold themselves out is the one doing the true disservice to everyone.

Well... if they did offer the company to domestic investors, maybe its not the problem that foreigners were willing to pay what ExxonMobil wanted to pay (if they even entertained an offer). Do you suggest some kind of honor system where domestic businesses only allow a sale from domestic investors? Or do you think the government should do something about it?

[Gary and Alla 3,694]

How can you hate big oil if they are also big solar? OH NO!!!!!!!!!

[dalegg 143]

Buy it so you can stop it!!

[Mr. Big Dog 10,747]

Buy it so you can stop it!!

I think you're onto something.

[one...two...tree 2,762]

I think you're onto something.

I don't think so. They are looking into the future for energy production.

[Kathryn41 3,205]

inappropriate post adding nothing to the discussion has been removed.

[Mr. Big Dog 10,747]

I don't think so. They are looking into the future for energy production.

The commies in Europe will have one up on us pretty soon.

[dalegg 143]

There has to be a good smug joke in here somewhere with a French energy company buying a stake in a San Fransican energy company.