Raser is now positioning itself as a big geothermal power plant developer. They have put the “100 mpg” Hummer on the back burner so to speak. Well Raser brings a contract with United Technologies as their entre into geothermal energy. UT may have some good technology but Raser will have to pay full price to buy this technology so unless Raser can raise cheap capital to finance their build own operate geothermal power plants they have no cost advantage over other more well funded project developers. Of course Raser has their hand out for Uncle Sam’s stimulus money and stranger thing have happened so they may pull this off but maybe the Feds can read a balance sheet and even the US might understand that Raser has negative net worth as well as negative working capital.
As for Gallstone they have yet to claim their microturbine can run on geothermal steam but they are asking investors to pony up more cash to keep going. They announced their quarterly results a few days ago. http://finance.yahoo.com/news/Capstone-Turbines-4Q-loss-apf-2100563017.html?x=0&.v=2 They lost over eleven million dollars this quarter. This means they spent two dollars for each dollar of sales revenue. Kind of like the State of California.
Enough about losers and losses, I have great news regarding the state of carbon emissions in the USA. We are emitting only 94% of the emissions we had in 2008 and about 92% of the emissions we had in 2007. All fossil fuel based electric generation has declined since last year. Oil usage has declined to 18.6 million barrels a day (this is more than 1.2 million barrels a day less than last year). I doubt that when the economy recovers we will ever go back to the absolute level of energy wastage we had in 2007. The US is no longer the largest polluter on the planet. China will hold this position now and well into the future. GM had good news to report today. Their Chinese joint venture has just sold their 2 millionth Buick. Maybe Raser should move to China now that a Chinese company will own Hummer. I wonder what the Mandarin word for an Eraser is? Perhaps the word is also a Chinese synonym for Ghost.