T. Boone Pickens Says Peak Oil Reached, Plans World’s Largest Wind Farm
When one of Texas’s richest oil men bets big on wind energy, it gets attention. Yesterday NPR’s Living on Earth broadcast an interview with Mr. Pickens, who shared the salient facts about his planned wind project:
- It will be the largest in the world, he reckons, at 4,000 megawatts
- It will provide enough power for 1,300,000 homes
- It’s a $10 billion dollar project from which he plans a 15%-25% profit
Asked why he is investing in wind now, Pickens replied:
“For a number of years I’ve watched the wind turbines develop — and I feel like it’s time for it. I think that oil has peaked at 85 million barrels in the world. We’ve got to develop other forms of energy — wind, I think solar will be next, and I hope I’m still around to be in the solar deal.” (Pickens is 80 years old.
But what if Congress doesn’t vote to extend the wind Production Tax Credit?
“Well, I think they’ll vote on it. They’ll either do that or they’ll give some kind of carbon credit because, the wind has to be developed in the United States. We’re now importing 72 percent of the oil we use every day. I think everybody can see that we’re gonna break the country if we pay 700 billion dollars a year for, uh, imported oil……I’ve got a good team of people that are knowledgeable in wind energy, and I don’t worry about it. I think it’s a good project, and it’ll do well and we’ll make money. And it’ll help the country.”
I took a look at Pickens’s bio on Wikipedia. He grew up poor but worked hard. He became a geologist in the 50’s, which “were difficult times for the oil industry and petroleum geologists.” He stuck at it and obviously his bet on oil paid off; Pickens is worth $3 billion now. But he’s moving on — to wind. Find out more about this story in the current issue of Fast Company.
T. Boone Pickens on ethanol: Which is Worse: Exporting $1 Billion Per Week or Growing Fuel?
More on Wind Power:
- Vertical-Axis Wind Turbines: The Future of Micro Wind? [w/video]
- The “Unlimited” Potential of American Wind Power: AWEA
- Top Five Micro Wind Turbines
Image credit: www.boonepickens.com
I agree with Pickens that solar will be the next deal to come around. Also, once the technology for solar is there, it will be THE source for our energy needs.
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I understand Mr Pickens is actively involved in several types of alternative energy plans—-Are these all private companies or can a small individual investor purchase stock in his companies—i believe Mr Pickens is right on with his thinking—Now we as individuals in this country need to put the pressure on our elected officials—ANY IDEAS HOW THIS CAN BE DONE—THANK YOU VERY MUCH
I agree that Mr. Pickens is on the right track. With twenty eight years in the oil industry as an electrical engineer I have researched alternative energy. I believe that wind offers the best opportunity for a significant contribution to our energy requirements and is the only viable alternative over the short term of the next few years. Capital costs for solar is still prohibitive. Also, since Mr. Pickens just built the stadium at my alma-mater Oklahoma State Univ. I’ve got to ride with the cowboys. Go wind and thank you Mr. Pickens for your insite and contributions.
No tax credits here!! If the technology can pay for itself in the open market great, otherwise the US taxpayers should not be supporting a scheme that can’t support itself.
Why can’t we have a Manhattan type project to find an alernate energy source. Politicians have been saying we have to change for 30 years or more. Well many of them are still in office and have not had the courage to bite the bullet. Lets not lose hope in the American spirit of can do. Thanks for your leadership in this mattter.
John 17:21
T. Boone is a visionary with a difference. He has the backbone to voice his concerns, and at the same time, offers a solution!
We need a variety of alternative enduring energy solutions that can be scaled to the necessary size to impact on our global emergency. There is no time to waste!
T Boone wants your tax money. Wind energy per kilowatt hour is among the most expensive available. Maintenance is also high (think thousands of small generators each with mechanical parts). The only alternative is nuclear but these usually supplant large coal plants and not NG because NG is used mostly for small plants that help with PEAK usage. Still, safe clean nuclear could provide the basis for a generation of electric cars that WOULD reduce oil usage. Wind? A minor contributor at best and provides no oil relief. Sorry.
Electric power: Coal with 49% of the total electric power produced in the USA costs 5 cents per Kilowatt-Hour, Natural Gas with 20% of electric power produced cost 5.5 cents per Kilowatt-Hour, Nuclear Power with 19% of electric power producted costs 6 cents per Kilowatt-Hour, Wind with a fraction of the USA power produced cost 6.5 cents per Kilowatt-Hour currently, and Solar electric power currently cost 15 cents per Kilowatt-Power