title: Module build failed: ReferenceError: [BABEL]
body: <p>I have this configuration</p>
  
  <p><strong>package.json</strong></p>
  
  <pre><code>{
    "name": "app02",
    "version": "1.0.0",
    "description": "",
    "main": "webpack.config.js",
    "dependencies": {
      "react": "^0.14.3"
    },
    "devDependencies": {
      "babel-core": "^6.2.1",
      "babel-loader": "^6.2.0",
      "babel-preset-es2015": "^6.1.18"
    },
    "scripts": {
      "test": "echo \"Error: no test specified\" &amp;&amp; exit 1"
    },
    "author": "",
    "license": "ISC",
    "private": true
  }
  </code></pre>
  
  <p><strong><em>webpack.config.js</em></strong></p>
  
  <pre><code>module.exports = {
    entry: "./src/main.js",
    output: {
      path: __dirname + "/public",
      filename: "bundle.js"
    },
    module: {
      loaders: [
        {
          test: /\.jsx?$/,
          exclude: /(node_modules|bower_components)/,
          loader: 'babel',
          query: {
            presets: ['react', 'es2015']
          }
        }
      ]
    }
  }
  </code></pre>
  
  <p><strong><em>src/main.js</em></strong></p>
  
  <pre><code>import React from 'react';
  import Greenting from './components/greeting';
  
  
  
  React.render(
    &lt;Greeting name="World" /&gt;,
    document.getElementById('content')
  );
  </code></pre>
  
  <p><strong><em>src/components/greeting.js</em></strong></p>
  
  <pre><code>import React from 'react';
  
  export default React.createClass({
    render: function(){
      return (
        &lt;div className="greeting"&gt;
          Hello, {this.props.name}!
        &lt;/div&gt;
      )
    }
  })
  </code></pre>
  
  <p><strong>PROBLEM when running <code>webpack</code> command in terminal</strong></p>
  
  <pre><code>    ⇒  webpack
      Hash: 396f0bfb9d565b6f60f0
      Version: webpack 1.12.6
      Time: 722ms
          + 1 hidden modules
  
      ERROR in ./src/main.js
      Module build failed: ReferenceError: [BABEL] ~/app02/src/main.js: Unknown option: ~/app02/node_modules/react/react.js.Children
          at Logger.error (~/app02/node_modules/babel-core/lib/transformation/file/logger.js:41:11)
          at OptionManager.mergeOptions (~/app02/node_modules/babel-core/lib/transformation/file/options/option-manager.js:262:18)
          at OptionManager.mergePresets (~/app02/node_modules/babel-core/lib/transformation/file/options/option-manager.js:325:16)
          at OptionManager.mergeOptions (~/app02/node_modules/babel-core/lib/transformation/file/options/option-manager.js:287:12)
          at OptionManager.init (~/app02/node_modules/babel-core/lib/transformation/file/options/option-manager.js:416:10)
          at File.initOptions (~/app02/node_modules/babel-core/lib/transformation/file/index.js:190:75)
          at new File (~/app02/node_modules/babel-core/lib/transformation/file/index.js:121:22)
          at Pipeline.transform (~/app02/node_modules/babel-core/lib/transformation/pipeline.js:42:16)
          at transpile (~/app02/node_modules/babel-loader/index.js:14:22)
          at Object.module.exports (~/app02/node_modules/babel-loader/index.js:87:14)
  </code></pre>