GE's Immelt Pledges Huge Green Energy Spending Through 2020

The General Electric Company (NYSE: GE) is spending $10 billion to renew its "ecoimagination" initiative to invest in clean and efficient energy projects like waterless hydraulic fracturing and wind turbines that adapt to wind speed and direction by 2020, chairman and CEO Jeff Immelt announced Monday in Washington, D.C., at a conference hosted by GE. "There's efficiency and economics ... and we don't think you have to give up one to get the other," Immelt said.