Tuesday, July 7, 2009

The "Pickens Plan," DOA?

AlphaNinja - The Pickens Plan may be Dead on Arrival.

T. Boone Pickens has called off his wind farm in Texas. Despite his lofty goal of "energy independence," silly details like transporting and storing the actual energy have gotten in the way. Another reason to be skeptical when these bills are railroaded through congress by people with enormous conflict of interest (Pickens developing wind farms, Gore's investments in green start ups to name a few).

"When I start receiving those turbines, I've got to ... like I said, my garage won't hold them," the legendary Texas oilman said. "They've got to go someplace."

In Texas, the problem lies in getting power from the proposed site in the Panhandle to a distribution system, Pickens said in an interview with The Associated Press in New York. He'd hoped to build his own transmission lines but he said there were technical problems.

The scariest part of the Pickens plan is that he thinks CONGRESS can lead the way on energy.

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