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

About the Author:

Mr. Tengdin is the Chief Investment Officer at Charter Trust Company and author of “The Global Market Update”. The audio version of each post can be heard on radio stations throughout New England every weekday. Mr. Tengdin graduated from Dartmouth College, Magna Cum Laude. He received his Master of Arts from Trinity Divinity School, Magna Cum Laude and received his Chartered Financial Analyst (CFA) designation in 1992. Mr. Tengdin has been managing investment portfolios for over 30 years, working for Bank of Boston, State Street Global Advisors, Citibank – Tunisia, and Banknorth Group. Throughout his career, Mr. Tengdin has emphasized helping clients manage their financial risks in difficult environments where they can profit from investing in diverse assets in diverse settings. - Leave a comment if you have any questions—I read them all! - And Follow me on Twitter @GlobalMarketUpd

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