Plans for the world's largest wind farm in the Texas Panhandle have been scrapped, energy baron T. Boone Pickens said Tuesday, and he's looking for a home for 687 giant wind turbines.What a rube. The dude got taken to the cleaners by some slick-talking green power salesman. Now he's finding out that it was all nonsense.
Pickens has already ordered the turbines, which can stand 400 feet tall — taller than most 30-story buildings.
In Texas, the problem lies in getting power from the proposed site in the Panhandle to a distribution system, Pickens said in an interview with The Associated Press in New York. He'd hoped to build his own transmission lines but he said there were technical problems.Whoops! Would could have seen that coming?
Next up, hundreds of square miles of solar panels in the desert!
9 comments:
His real problem is that he was planning to use his profits from natural gas sales to finance everything else. So he bet on natural gas prices to go up, and when they didn't, everything fell apart.
Texas might not have been the best place in the world for him to pick, though. I don't know all the specifics, but most of Texas is on a totally separate power grid than the rest of the country, which is essentially split down the middle into two humongous grids.
What Kelly said (about gas prices).
Not so sure about Justin. Seems to me that working in a single state with a single grid is much easier than the alternative.
But this is the kid who really gets screwed... http://www.postandcourier.com/news/2009/jul/15/19yearold_gets_pickens_plan_post/
Geeze, man, those are some really longshot excuses for what looks to have been a colossal financial mistake. If the thing was going to make money, but he didn't have the capital to do the full implementation right away, then the answer was to do it in stages, starting with just what he could afford. He's not doing that, he's pretty much just bailing out.
KT,
I don't think these sort of people think that way. If they guess right they make a killing, and if they guess wrong, they file bankruptcy and someone else takes the loss. Either way they win.
Something is not printing out. Pickens did not achieve his station in life by making such colossal mistakes.
Even if his natural gas money was going to subsidize the start-up, it still wouldn't solve the inherent transmission/storage problems of solar power.
This so does not make any sense.
oops... I mean "wind turbine power."
... but speaking of solar power, I have read that solar farms are water-intensive in order to keep the panels clean. Water: something else that's just laying around in vast quantities in regions best suited for solar power.
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That has to be the single looniest comment I have ever received. I think I'll leave it.
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