The Winds of Change

The wind farm is a blowout.

That’s what’s happening to T. Boone Pickens’ plan to use prairie winds to save America. Without a grid to transport the power, it can’t get from the Texas panhandle to where people live. And with energy so cheap, nobody wants to lend the money to build the power lines.

Things have changed since last summer when Pickens along with everyone else predicted that $100 oil was here to stay. The “Pickens Plan” was to use wind to generate electricity, freeing up natural gas to run big trucks, lessening our dependence on imports. But without government help, he can’t make it work right now.

Now he plans to build several smaller wind farms with the 687 turbines he’s ordered from GE. Not as showy as a 4 gigawatt project. But maybe more efficient. And just maybe another lesson on how markets need to be respected.

Douglas R. Tengdin, CFA
Chief Investment Officer
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By | 2014-09-04T19:00:27+00:00 July 9th, 2009|Global Market Update|0 Comments

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