Honeywell Chairman and CEO Dave Cote appeared on CNBC’s “Mad Money” where he talked about energy efficiency and the U.S. economy with TV show host and respected money manager, Jim Cramer.
Cramer believes the U.S., led by large corporations that provide energy-related products and supply jobs, will emerge from this economic crisis stronger than before.
“Honeywell is more profitable than anyone could have imagined it would be at this point in the business cycle and this isn’t just any old industrial company,” said Cramer. “Honeywell’s products uniquely involve the controlling and saving of energy. That’s the story here.”
Nearly 50 percent of Honeywell’s product portfolio company-wide is linked to energy efficiency and renewable energy. Simply by using the Honeywell technologies available in the marketplace today, the U.S. alone could reduce energy consumption by 15 to 20 percent and play a key role in curbing and reducing global greenhouse gas emissions.
“We need to be driving energy efficiency in the [U.S.] for two big reasons,” said Cote. “The first one is economic security. You get economic security by making sure that you’re as self-sufficient as possible in energy. The second one is you need low-cost power for an economy to compete, and energy efficiency is the lowest cost power you can get.”
For more information, watch the full interview.
