Boone Pickens Retreats on Wind Power

Remember Boone Pickens plans to cover the United States with windmills and lead all of us into the brave new world of renewable energy? Well, never mind.

From Fox:

Boone Pickens no longer plans to build the world’s largest wind farm, a spokesman for the Texas billionaire told the Dallas Morning News. Pickens had already delayed some of his plans. Now he said he instead plans to build five or six smaller wind farms in the Midwest and possibly Texas. Hurdles faces by Pickens included lower natural gas prices, which made power from wind less desireable, plus a lack of transmissions lines. “It was a little more complicated than we thought,” Pickens told the newspaper.

I’ll resist the temptation to get all preachy on this. Let’s just note that this probably won’t be the last green project that after all sorts of bluster fades away and wouldn’t it be nice if our politicians recognized that these things are a “little more complicated” than they think.

About Tom Lindmark 401 Articles

I’m not sure that credentials mean much when it comes to writing about things but people seem to want to see them, so briefly here are mine. I have an undergraduate degree in economics from an undistinguished Midwestern university and masters in international business from an equally undistinguished Southwestern University. I spent a number of years working for large banks lending to lots of different industries. For the past few years, I’ve been engaged in real estate finance – primarily for commercial projects. Like a lot of other finance guys, I’m looking for a job at this point in time.

Given all of that, I suggest that you take what I write with the appropriate grain of salt. I try and figure out what’s behind the news but suspect that I’m often delusional. Nevertheless, I keep throwing things out there and occasionally it sticks. I do read the comments that readers leave and to the extent I can reply to them. I also reply to all emails so feel free to contact me if you want to discuss something at more length. Oh, I also have a very thick skin, so if you disagree feel free to say so.

Enjoy what I write and let me know when I’m off base – I probably won’t agree with you but don’t be shy.

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