Friday, January 7th in a face to face interview with Eco Effect TV, Richard Ha confirmed that Roald Marth, Ted Peck, himself and several others are raising upwards of $2.5billion for an eco-friendly buyout of Hawaiian Electric Industries, Inc. (HEI).
Richard sat down with Charlene Brown, producer of Eco Effect TV in Hawaii, to discuss how the new electric entity would create “A Sustainable Hawaii Now.” Richard is the new Chairman of Kū’oko’a Inc., Richard said that if the community got together and buys the old utility company electric rates would drop by 25 to 30 percent right away.
Kūʻokoʻa, according the company’s website is the Hawaiian word for independence, liberty, or freedom. Richard is committed rid the State of foreign oil – and oil period. Hawaii imports 90% of its energy from as far away as Vietnam (22%), Saudi Arabia (18%), Indonesia (10%), Brunel (8%), Thailand (7%), Libya (7%), China (4%) Oman (4%), Russia 4%) Alaska (3%) and others.
Hawaiian Electric Company declined to participate in the panel discuss and provided no response to the news of a friendly buyout, or any offer on the table. Sources say the forced buyout would be as a result of failed initiatives to get Hawaii Electric to cut fossil fuel energy supply and develop more clean energy sources already available on the Hawaiian shores.
Geothermal energy is abundantly available in Hawaii but is untapped on most of the islands. The Big Island gets a significant percentage of clean energy from geothermal, but development has been stagnant for much of the past decade.
Currently, Hawaii pays $8.5billion per year to import crude oil. Transportation accounts for 62% and electricity accounts for 33%. Richard and the gang plans to take over Hawaii Electric Industry and keep that extra $8.5 billion at home, putting money back into the pockets of farmers and locals. Ha runs a 600 acre farm on the Big Island. Hamakua Springs already has plans to go off grid with geothermal energy supplied onsite the farms.
The Hawaiian Islands are warmed from live volcanic activity below the surface, creating quite a bit of steam that can be immediately converted to electricity – no coal, no oil. Richard says after buying out Hawaii Electric he will begin weaning Hawaii of milking the oil barrel in about two years.
Video produced by www.freedomriding.com
Filed under: Agriculture, aloha, Announcements, Big Island, Economy, Environment, Guest Commentator, Hawaii, Legal, Rumors, Something New?, State Affairs, Sustainable Living, Technology, Unexplained Phenomenon Tagged: | Geothermal energy, Hawaiian Electric Industries, Richard Ha, Roald Marth, Ted Peck