Jeff Immelt : The Big Surprises of today,the Availabitily of Natural Gas and the Price of Solar.

Jeff Immelt:

"So if you sat back and said, what are the big surprises as we sit here today; the availability of natural gas and the price of solar.  Those are two things that nobody forecast that are going to have massive changes from a stand point of future energy policy and where it goes, and I just think, governments can be   they can provide some clarity, but picking winners and losers like we did with ethanol, and things like that, that in the end   Americans my age learned earning policy in Europe, because basically there's never been kind of, I would say, an energy philosophy in the US.  So if you wanted to see where the world was going, we would go to Europe and study what was going on there.  Today Europe looks perverted, weird.  
    You have these big renewable energy   you've got 50 gigawatts of solar in Germany, all being provided out of China, driving electricity costs up, not down.  You sit there and say, this doesn't look so much fun.  This doesn't look   so now there's   I think in some ways the world of energy is really thrown into flux".  

Geoff Elliott:      Isn't there a policy risk though, here, for GE as well though in that there's a lot of political pressure around electricity prices in part from what we were talking about before, the energy companies are taking the LNG price from the export markets.  Do you worry about that?

Jeff Immelt: Sure.  It's hard for us to influence that, and I think all we can do is provide a range of technical solutions in any country, but including Australia that says, here is a way to think about whether it's wind or gas, or other places.  Everybody's going to work energy efficiency.  I would say with electricity prices growing like they are in Australia right now, energy efficiency's going to be even more important than it's been in the past.