This is a great thing. To poo poo it would be ignorant. One of the biggest problems in the US is the reliance on oil to power homes and, well, basically everything. The fact that an OIL man is investing in NOT OIL, well, that's just dandy. Wind Power > Oil
How can you be a real philantropist if your not rich? What what the Carnagie endowments be if he wasnt rich?
No doubt that very rich men do give back to their country, this is good. But what is being questioned is how these same men, once they are much older and not going to play the betting game for self gain anymore, decide to do what is good for the people instead of what is good for them. So why T-Boone did not think of American oil dependence to other countries 40 years ago when he was rich? Why did he place his bets and make huge money on oil, and nothing wrong with that, but why then wasnot he thinking about the country then, and preserving its capitol with wind and natural gas? He was not concerned with trillions going outside the country for oil then. He was concerned about being on the right side of the bet. That is a good trader. But now he is concerned for the country as a whole? This is what people are questioning. Who knows, maybe he has the forsight to see the future is in wind and natural gas, so he puts his money in that, and places his bets for the future of his children and grandchildren. Like Buffet, his time is over soon.
Pickens is investing in wind farms through which he expects to receive billions of dollars in government subsidies. http://www.dailykos.com/story/2008/7/9/12519/64503
I agree! I also hate those airlines trying to sell us this gravitation concept, I prefer to fly by my own with extended arms...
i bought this stock (CLNE). hes on cnbc 24 7 right now with his energy plan. this is his recent ipo, andhe has been pitching it. up 12% today in a down market
Crude down 50% and OPEC considers a production cut. hmmm I'm sure the peak oil experts have an explanation for this.
T Boone Pickens Puts Texas Wind Farm Project On Hold - AP Last update: 11/12/2008 11:43:40 AM DOW JONES NEWSWIRES Plummeting energy prices have forced T. Boone Pickens to cut back his campaign for a renewable energy and has put his West Texas wind farm project on hold, The Associated Press reported Wednesday. Pickens said with oil prices down, he has cut spending on his renewable energy campaign to $40 million-$50 million from an originally budgeted $60 million. In addition, the collapse in natural-gas prices has forced him to put on hold plans to build a 2,700-turbine West Texas wind farm. This summer, when Pickens announced his plans, oil prices were at $147 a barrel. On Tuesday oil hit 20-month lows, falling to $59.33 a barrel. Pickens said he was confident oil would be back up at $100-a-barrel levels within a year, making his plans more viable. Pickens said that his hedge fund is down about 62% since July. Full story at http://www.dallasnews.com/sharedcontent/dws/bus/stories/111308dnbuspickens.ae1b50.html -Dow Jones Newswires; 201-938-5500 Common sense ain't common.
Just 62% down.....and it is going to be a lot more down...before it goes back up..... What is interesting is if the US will put just as much emphasis on finding alternatives to oil when oil is $40 to $50....... And ....other good products are becoming better known... http://cleantechnica.com/2008/08/14...on-announces-first-customer-letter-of-intent/ Hyperion certainly has a good product.....This type of product can change some of the non oil producing poorer countries for the better in a big way..... Now for the US comes the question....should we put in alternatives when our budgets are low and oil is cheaper anyway? And postpone alternatives for another 20 years ? The Saudis are lovin this......