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?
- » See also: Storing Renewable Energy in Boxes of Air
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“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
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-Hour
Mr. Pickens, unlike another Texas oil-man, has the intellectual capacity, concern, vision, and wherewethal to help us turn things in the right direction.
This shows that we should not expect our (failed) politicians to lead the way on such critical issues as this…they are just the ones who got us into this mess. It takes true visionaries to assume the role of agents of change. Thank you Mr. Pickens.
But what will we do in 176,000 years when we run out of wind?!?
Just eat more beans?? We are doomed doomed doomed!!
We need to start raising animals just to kill and bury so our great grandkids will have OIL!!
Great idea, but why not put your money where your mouth is. Take your three billion and invest it into wind power. If I had that kind of money and I told everyone that I wanted to help my country, I would do it. Sounds like just another way for a rich man to get richer. I will bet that is the real motivation.
Can Mr. Pickens help me start a wild farm?
I lived & worked in Europe for 10 years. I was based in Germany and often saw the beautiful wind turbines on the hillsides & mountaintops while on my way to work. And now Germany is the World’s leader in Solar unselfishness. The problem in America is that too much of the decision making power for change is in the hands of GREEDY & SELFISH men & women. The German population has shown that they know they are all in it together for the better or worse; and that the society as a whole is better when all the boats rise together. In America the wealthy seem to believe that it is more profitable to keep some segment of the population down and in poverty. Is this because they need someone to blame for many of societies ills. The philosophy of President Bush and his henchmen and also most other Republicans including their candidate for President is this so called trickle down effect of tax breaks for the rich that will somehow create jobs is nothing but a ruse. Just what kind of jobs? Fast (poisonous) food franchises and the like. Tell me just how a single mother of 3 can provide for her family on $5-7/hr. with no health benefits. It’s laughable how the wealthy think. Do you HAVE’s really believe that you are really superior or somehow more deserving in any way. The wealth any of us receives is a BLESSED gift from God who has Commanded us to remember (care for) the POOR, the WIDOWS & the ORPHANS. I have traveled the entire world and America and Americans are some of the most selfish on this Earth which is such a pity when the only real joy in this life is to be found through GIVING, CARING & SHARING. Last evening I enjoyed hearing the CEO of Morgan Stanley Financial tell a National TV audience on Charley Rose that he thinks it’s only right that the wealthy (the have’s)in this Country pay more in taxes to help lift the boats of the have nots which will make life better for the society as a whole “Lay Up Not Treasures For Yourselves On This Earth.” After all folks they are only THINGS (TOYS) and they like each of you shall all pass away, but your GOOD WORKS shall last forever. In the end all that ever matters is: “Did You GIVE Enough LOVE?
This is a great example of how capitalism is a more efficient driving source for change in our great country then the federal government ever will be! People are looking for some magic solution to all of our energy woes, well there isn’t one answer to this problem, and the technology already exists to reduce our oil dependence!
I commend T. Boone Pickens on developing a green thumb. But lets not forget, the basis of the panhandle project was about water rights, not clean energy. Beware of greek bearing gifts.
His idea is so common it’s become mundane and unoriginal. He has money enough, sure, to invest in a too little too late project like this, but he cannot hitch his wagon to such a simple plan without appearing like a conservative sellout. He’s got a plan but he’s acting like a lobbyist to push it. Reject his last ditch effort to balance his remaining years on earth with this ridiculous scheme that will not be enough soon enough. Solar panel research has been stymied recently due to environmental impact research and wind turbine technology just won’t help enough to impact America as he espouses. He’s not investing in the right technologies that WILL change the world and help sooner rather than later.
We need a Manhattan Project sized thrust toward independent energy and to forgo oil use as a fuel. Comments such as taxpayers should mot pay are paleoconservative trash or a front. This is a national emergency, not taxpayers providing a handout.