Don, I am from Quebec, where ice and snow and cold put down our wire lines and towers. Can you not put a pipe exhaust outside with the generator in the concrete basement enclaved in its own enclosure?
Where I live now it is similar to Amir; trees and branches fall on the power lines everytime we have strong winds. We can lose power for a day or two.
If I lost power for 48 hours, along with the fiber optic line and telephone line, it is no big deal; I go for a ride on my bike...it is splendid here...the mountains, the ocean, the forests, ...all that jazz of nature.
Snow on the island is minimal, and does not last. But we sure can get some heavy downfalls occasionally...ask Amir.
Anyway, generators are not for everyone, or for every region.
Well, duh, yes you could (put it in the basement and duct it)! Sorry about that Bob, that does make sense. Like you, here the intake and exhaust would have to be shielded from snow or otherwise protected since we do get several feet at once on occasion. There was some code issue with having it indoors or too close to the house but I am not sure I ever asked explicitly about placing it inside and what sort of ducting would be required. It was not an option for us (no place for it since we finished the basement), and my vague memory is that the unit was not rated for indoor use (need custom ducting or greatly expanded ducts to our mech room even if it would have fit and probably custom ducting to the generator, plus we needed a special gas line that would have been a bear to get inside). They do make "indoor" generators but I never really looked at them. They are designed for inlet/outlet ducting and such, with specially-shielded motors and additional sensors to ensure they are not emitting excess CO inside.
A friend of my has his in a shed with a duct through the wall. Since it is not living space it passed code, though I remember he had to rework some of it to meet the required inlet/outlet standards, and had to move it and shield it for fire safety.
No power for 48 hours? In the summer, maybe, but 48 hours in a blizzard is a long time; we need heat or pipes will freeze. And our snowiest month is actually March, with April and November a toss-up. The other big player is that we get our water from our well (~300'/100 m down to the pump) so we also lose water when the power goes out. Life in the country...