Google has said that it wants to develop cheap alternative energy:
Google, the owner of the most-used Internet search engine, said yesterday it’s hiring engineers and energy experts to lead a process that may cost hundreds of millions of dollars.
The project, called Renewable Energy Cheaper Than Coal, is meant first to help Google cut its energy costs and then to offer customers cheaper power. It follows initiatives this year to maximize the efficiency of its data centers, which account for most of the energy Google consumes.
Sounds like a good thing doesn’t it? It will cut Google’s energy costs, help the environment (which is good publicity), and might even make them some money because they want to eventually make enough power so they can sell it. But not to everyone:
Investors might worry about the company’s “long-term focus” and questioned whether the project was a good fit for the company, said Jordan Rohan, an analyst at RBC Capital Markets in New York. Google makes 99 percent of its revenue selling ads.
“What the heck are they doing? It boggles the mind,” said Rohan, who advises buying Google shares. “This makes me worry about Google’s priorities.”
The fact that creating alternative energy is a good thing for the country and the world doesn’t matter for these type of people. It’s all about the profit and stock price–I worry about Rohan’s priorities.
Filed under: Free Markets, craziness, environment | Tagged: but my stock price, craziness, environment
