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Post by happyhoya1979 on Mar 10, 2023 11:51:22 GMT -5
It is always amazing how very smart people (Rice and Harvard degrees) with tremendous futures in politics make such incredible political mistakes. The latest example is Virginia Governor Glenn Youngkin who seems determined to make the Dominion Energy Company uninvestable both wrecking the retirement incomes of thousands of ordinary small investors across the state who depend on the local power company's dividends and imperiling the future stability of the Virginia Power grid as Dominion's diving stock price (down 26% in 4 months) makes it impossible for the firm to raise money in the capital markets. It is possible that if the present regulatory reform bill passes with Youngkin's signature and is not fixed to give Dominion a dependable return Virginia could have the kind of rolling blackouts and energy chaos California has experienced under Gavin Newson with Pacific Gas and Electric.
Dominion is developing the first major wind power project in the nation and its success would cement Youngkin's appeal to young, green voters but it is now possible that Dominion may not be able to fund it though 2026 as its stock price continues to crater. One would think with the stake the Democrats have in the success of wind power that they would ensure the Coastal Virginia Offshore Wind Project does not become a highly visible white elephant that could then endanger funding for all future Wind projects, and that Youngkin could cut a mutually beneficial deal with them.
Competing states like North Carolina (Duke Power) and Florida (Florida Power and Light) are East cost models of success that makes the Dominion debacle a major eyesore by comparison.
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Post by happyhoya1979 on May 18, 2023 11:08:45 GMT -5
May 18 Update-Dominion Energy reaches 10 year low in stock price and has the worst earnings and dividends to price ratios of any major publicly traded utility. Youngkin totally outplayed by the Democrats and now has an entity that may have future impairmment risks for its projects and, given time, energy chaos that could result in the power going down with major national project failures. His rival Ron Desantis of Florida has a model utilitiy in Nextera Energy which makes the contrast with Youngkin stark. Seven months ago before the last legislative session and the several energy bills it passed with Youngkin's signature, Dominion was one of the most succesful large utilities in the country. Wow, talk about creating a hill for a politician's career to die on.
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DanMcQ
Moderator 
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Post by DanMcQ on May 18, 2023 15:17:43 GMT -5
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hoyarooter
Blue & Gray (over 10,000 posts)
Posts: 10,209
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Post by hoyarooter on May 18, 2023 18:17:20 GMT -5
May 18 Update-Dominion Energy reaches 10 year low in stock price and has the worst earnings and dividends to price ratios of any major publicly traded utility. Youngkin totally outplayed by the Democrats and now has an entity that may have future impairmment risks for its projects and, given time, energy chaos that could result in the power going down with major national project failures. His rival Mark Desantis of Florida has a model utilitiy in Nextera Energy which makes the contrast with Youngkin stark. Seven months ago before the last legislative session and the several energy bills it passed with Youngkin's signature, Dominion was one of the most succesful large utilities in the country. Wow, talk about creating a hill for a politician's career to die on. Is Mark Ron's brother? |
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Post by happyhoya1979 on May 18, 2023 18:31:25 GMT -5
May 18 Update-Dominion Energy reaches 10 year low in stock price and has the worst earnings and dividends to price ratios of any major publicly traded utility. Youngkin totally outplayed by the Democrats and now has an entity that may have future impairmment risks for its projects and, given time, energy chaos that could result in the power going down with major national project failures. His rival Ron Desantis of Florida has a model utilitiy in Nextera Energy which makes the contrast with Youngkin stark. Seven months ago before the last legislative session and the several energy bills it passed with Youngkin's signature, Dominion was one of the most succesful large utilities in the country. Wow, talk about creating a hill for a politician's career to die on. Is Mark Ron's brother? s/b Ron not Mark, now fixed. With Dominion's deteriorating financials it is not inconceivable that to keep funded the firm may have to make layoffs across Virginia six or eight weeks before the Virginia legislative elections this Fall in a state with a booming economy and strong need for energy. |
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Post by happyhoya1979 on May 31, 2023 7:48:12 GMT -5
May 31 update - Artificial Intelligence stocks soar with the rise of NVIDIA stock. Northern Virginia is home to about 275 data centers, handling at least a third of the world's online use. With the growth of artificial intelligence Northern Virginia needs to exploit this position. Unfortunately, without a financially healthy Dominion Energy Company, Northern Virginia could well lose its ability to expand data center capacity and with it its leadership position in the technology of the future. The reputation of Virginia as a technology leading state is now under siege. The utility regulation from the last legislative session has been an ever-increasing disaster.
Will the future growth in AI data centers go to North Carolina (Duke Power and a Democrat Governor) or Maybe Florida (Nextera and Governor DeSantis)?
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Post by happyhoya1979 on May 31, 2023 19:37:40 GMT -5
Eight short months ago before the current legislative session, Glenn Youngkin had the opportunity to be a Purple State Governor of a state that could have the first major successful wind power project in the country and that could be the center of gravity of AI processing in the world. He could have had economic bona fides that coupled with his leadership on issues like parental control and meritocracy in schools could have launched him to the very top. Imagine, a culturally conservative Republican with green and high tech bona fides who could sweep all the major suburbs in places as blue as New Jersey and Silicon Valley in a Presidential race.
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Post by happyhoya1979 on Nov 8, 2023 14:31:25 GMT -5
Stick a fork in him, he is done.
Instead of a campaign of 21st century economic development based on AI and making Northern Virginia the center of the world in AI processing and VA the center of the world in wind power through support for the Coastal Virginia wind project, he continued the benign neglect of Dominion Energy and focused his energy on a 15 week abortion ban trying to play King Solomon on an issue he should have conceded to the Dems in this state and to education issues that have outlived their shelf life.
If he redirects his political strategy to a 21st Century economic vision he may be able to get enough Democratic support to salvage his career for 2028.
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