Big Pickens: T. Boone, the Oilman, Ups the Ante in His Wind Bet

[OKIsItJustMe]

http://blogs.wsj.com/environmentalcapital/2008/07/08/big-pickens-t-boone-the-oilman-ups-the-ante-in-his-wind-bet/

July 8, 2008, 2:11 pm

Big Pickens: T. Boone, the Oilman, Ups the Ante in His Wind Bet

Posted by Keith Johnson

T. Boone Pickens certainly has a keen sense of timing. The Texas oilman called $100 oil when that was a crazy idea, and now he’s climbing on the green bandwagon with the best of them.

Mr. Pickens is investing billions of dollars to build the world’s biggest wind farm, in Texas. Today, he launched a http://www.pickensplan.com/theplan/">huge public-policy push that takes his wind bet one step further. His argument: The U.S. can wean itself off foreign oil if it puts its faith in prairie breezes.

His idea is as simple in theory as it is hard to implement. If the U.S. can get serious about wind power—and it does have lots of wind—then it can free up natural gas that’s used for electricity to run vehicles instead. That would obviate the need for millions of barrels of oil a day, saving America hundreds of billions of dollars and moving it closer to energy independence.

He’s already pitched his “Pickens Plan” http://blogs.wsj.com/environmentalcapital/2008/06/17/boones-farm-oilman-asks-feds-to-help-distribute-his-wind-power/">to Congress, but—sniffing a growing sense of public indignation at $4 gasoline and ever-increasing dependence on foreign oil—he’s now taking his case straight to the people. For a persnickety old oilman, one of the biggest surprises is his slick Internet campaign—replete with Facebook http://www.facebook.com/people/T_Boone_Pickens/1377001835">profiles and other http://blogs.wsj.com/buzzwatch/2008/07/08/t-boone-pickens-facebook-guy-pickens-plan-taps-social-networking/">multimedia trappings. Mr. Pickens’ aides told USA today he plans to http://www.usatoday.com/money/industries/energy/2008-07-08-t-boone-pickens-plan-wind-energy_N.htm">saturate American living rooms with his message between now and election day.

...

[DJ13]

1. Thats more a sign he no longer thinks oil will go higher

And THAT is good news.

[tularetom]

2. Maybe he can use the $1 million he welshed on that challenge

to pay Kerry for proving his medals were deserved.

Fuggin slimy bastard.

[blm]

5. He couldn't have a Dem in office until he nailed down control of alternative energy

technology. If Gore or Kerry had gotten in, he wouldn't be as wealthy as he is today and those who actually pioneered alternative energy technology would be in position to reap the rewards of their work by now.

He worked as hard as anyone to get Bush elected and KEEP Bush in office till he made all he could from oil.

[screembloodymurder]

3. I posted on this earlier today.

It seems Pickens helped fund the Swiftboaters and therefore his idea is not worth considering. The way I see it, we need a plan to end our oil addiction and we need allies. It may be an unholy alliance, but that's politics. Pickens' plan is clean, green and doable.

[OKIsItJustMe]

4. Sorry 'bout that, I try to find duplicates

I did a quick search for "Pickens" and didn't see a thread.

In a sense, this is not a new story, in that he's been working on this plan for a while.

However, what I find most interesting about it is that this is an oilman who is advocating a wholesale switch to alternatives. (Video available http://www.wsmco.com/show.aspx?990_Billionaire's_plan_saves_US">here.)

Pickens is taken seriously by the Wall Street Journal (for example.)

When American big business senses that there's real money to be made in alternative power, watch out!

[JohnWxy]

6. The renewable energy legislation (which includes continuation of the PTC for wind farms) is stalled

in the Senate. The Rupubs won't accept provisions included by Dems for revenue neutrality by closing tax loop-holes for the wealthy and corporations.

Last year installed wind power capacity surged 45%. If this rate of growth was continued for 8 years wind power would be providing 20% of the nations electrical power. For this to happen though Government has to aggressively support wind power growth - at the very least by seeing that the PRoduction Tax Credit for wind farms stay in place without a break in coverage.

Go to www.congress.org to easily email your Senators and Representatives. Tell them the energy crisis is too important to let the PTC lapse for 6 months or a year (it will be reinstated eventually but we can't afford to let wind power expansion slow for any period of time).

Your one email might be the one to get things moving again. What if hundreds of DUers emailed Congress about the urgency of expanding renewable energy sources. Just do it! After you send an email you'll feel good about it! The Republicans are aided and abetted by apathy!

Recommended.

[NMDemDist2]

7. and there it is. T jumped on the tax credit bandwagon and it's going away

so he's lobbying to keep it.

and I agree with keeping it, even if it does go to the slime of the earth like Pickens. somebody with deep pockets needs to keep building wind turbines.

it's just too bad it's this POS

but hey, if it gets us greener, worse things could happen :shrug:

[progressoid]

8. And he's buying up water rights in Texas.

http://www.chicagotribune.com/features/lifestyle/green/chi-t-boone-pickens-plan-080708-ht,0,3211333.story

T. Boone Pickens buys water rights in Texas

Battles over water rights for survival and economic growth were dramatically depicted in the films " Chinatown" about Los Angeles and "The Milagro Beanfield War" about the American Southwest.

The present-day story unfolding over water's future may offer opportunities for investors able to envision it as a valuable commodity that benefits companies involved in its sale, distribution, purification and infrastructure.

Corporate raider and oilman T. Boone Pickens has been buying up water rights in the Texas Panhandle in the belief that water is going to become scarce and salable. This follows the logic that climate change, shrinking lakes and rivers and population growth will make increasing portions of the world susceptible to water shortages.

With that in mind, governments and companies around the world are beginning to take steps to deal more effectively with the issue of water. The number of ways to invest in water-related companies has increased.


________________________________________________________________________

I saw the end of one of his ads today. I'm very skeptical of his motives.

[Finishline42]

11. Water Rights

Ted Turner is the largest land owner in, of all places, Nebraska! Turns out, Neb is over one of the largest aquifiers in the country. Do you think those buys are about cattle or water?

"I'm very skeptical of his motives." Pickens is very clear about his motives. $500 billion leaving the country every year, wealth that might soon leave the US a second rate power. He's a geologist first - not a snake oil salesman, and he's not the only oil man talking about demand outstripping supply, especially in the 'light sweet crude' that everybody craves for it's ease of refining.

The thing about windfarms and windmills - it's technology that can be scaled up in a hurry, there's no cornering the market, no patents to make everybody pay more than it's worth. Plus it would create a lot of mfg jobs in THIS country. Plants are already being built to supply some of the components - and that's without a long term commitment by the govt. GE Wind has every windmill sold through 2010, of course Pickens just bought 667. That's 25% of his intented buy.

One more side note. The going rate for 'royalties' for letting someone place a large winddmill on your property is $500 per windmill per month. So Pickens will have an advantage in that he already owns the property.

[kristopher]

9. Just saw his commercial on msnbc.

the US buying oil from overseas represents the "Greatest Transfer of Wealth in Human History". He plans a large scale publicity campaign designed around "We can't drill our way our of the energy crisis".

Sounds like an endorsement for Obama to me.

[depakid]

10. On CNBC last night it was also drill, drill, drill and coal, coal, coal

Climate change isn't even on this mans radar.

Indeed, someone sent an hilarious e-mails that went tight over both the host's and Picken's heads:

Since global warming means that we'll have more sunlight, shouldn't we be investing more in solar power.

:rofl:

[kgrandia]

12. The Frame

If this echoed around the internet and the mainstream media: "Legendary conservative oilman T. Boone Pickens says oil is a dead end"


It would get HUGE traction! Anyone got a blog?

[kgrandia]

13. Recommend it!`

This is a frickin' important post!

[DainBramaged]

14. T. Bozo Pickers is a scumbag and Reich-wing opportunist.

He has no loyalty to anyone except the greenback and he is one of those old fuckers who thinks he can take it with him, like the Pharaohs.