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Breakingviews: Total greenwash

Monday, Mar 17, 2014 - 03:10

March 17 - Richard Beales and Christopher Swann discuss French giant Total's investment in solar firm SunPower and whether Big Oil can really embrace alternative energy.

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-- to tell big financial company has been dabbling in solar power for a company is now Chris you and in Houston a couple of weeks they're hearing so the company -- say about this. I think. You'll view is -- -- quite serious about it from the defense. While back Chris stuff too much are you with that boasting about how much the media and that the chief executive of take telemann with the front investment starts. I think about the F fact that they've made so much money and that's when I invested and it. And I spent about one point five billion dollar now that stock unit and about 66%. Is that what about 2.5 billion dollars and right at that right next. Initially this is plunged as bad stuff for them that yes these are lost about a billion dollars now nothing -- and about a billion dollars. But if you compare that aside the increase in -- -- share price that there and ship threatening about 6% to -- -- competitor Tenet basically fight this. By accident. Maybe not quite able to come here expecting and their French company looking green is incredibly helpful fold them. For an -- manual thing happened on the ten patients -- -- But talking about collective stock price game that doesn't sound like they do. Right because that's kind of the way traded told today have a long term vision you didn't you know invested in the stock price of the product was the thinking that the they have other so let's does this. -- -- -- itself as if they're thinking -- if they should -- -- on I've ridiculous multiple times about 26 times that at next year's standings. Even fast so to which some people think if -- valued is only like seventeen times. The companies and oil companies have failed out of this area might be paid for example got out at exactly the same time that dictate how was getting. And and you mentioned also a new piece. Deal must so the companies that commitment has space excellent stuff. Which is it a little bit the same business and seems to be. Dominates that business of the happenings of that little good -- is ten dollars in total some right debt is actually that's not look at these told because so this city has about four times the number of customers. And much of the height I think Elton SunPower stock it's related to that business where it's running path at that place I think they've been tackles today. -- larger and growing cost us. So those question can these big oil companies and it on oil companies can they've become energy companies in the sense that. They can do so wins this kind of stuff or is that a bit late. Combustion engine coast becoming electric company because they just can't ditch that other stuff what what a nice I think depends on whether investors want these companies to come conglomerates -- BP does do. We didn't play. And mama my sense is that it's still an element of dream since is that. In the case of tectonic 150 it to win it doesn't it's not a real window dressing -- 150 billion dollar company that spent one point five billion dollars on site. That's a big contrast thanks Chris we'll leave it and -- civil breaking news to work.

Breakingviews: Total greenwash

Monday, Mar 17, 2014 - 03:10

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