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Tuesday, July 7, 2009
4:43 PM TweetThis
  • T. Boone Pickens scuttles his plan to build the world's biggest wind farm, which doesn't fly so high with crude under $63 and nat-gas under $3.50. Like a sailboat when the wind dies, alt-energy bubbles can deflate in a hurry.

This news story has 9 comments:

  •  
    I never figured out what wind had to do with oil prices anyway. It competes with coal and to some extent NG.
    Jul 07 04:54 PM | Link | Reply
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    Energy prices are fickle. The oil and natural gas prices are reasonable enough now to reduce profitability or even shut down any alternative energy ventures.
    Jul 07 05:03 PM | Link | Reply
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    Give Obama time to work his magic. He wants wind, he'll get wind no matter what industry has to be destroyed to make it happen.

    And thats the thing with having the government control who wins, winning always benefits the government, not main street. But its main street that will believe they are the beneficiary.
    Jul 07 05:09 PM | Link | Reply
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    Pickens lost to Big Coal and Big Oil - and I was on his side in the natural gas long play.

    There are no free markets - only bought markets. The lobbyists have the markets by the short hairs.

    Big Coal should die on a level playing field.
    Jul 07 05:11 PM | Link | Reply
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    I think the use of "scuttles" is a bit broad here, in that he's scaling down at the time, and it seems that he's still fulfilling his original GE turbine order for 1,000 Megawatt output, still huge compared to any other wind project in the world so far.

    Windsun, I believe his promotion of wind power isn't to reduce the cost of oil, per se, but to reduce the importation of oil and dependence on foreign nations for energy supplies. While developing nations would benefit from our reduction in usage by a lower oil price, we'd benefit from a smaller wallet in the "bad guys" hands.
    Jul 07 05:24 PM | Link | Reply
  •  
    Mattup hits the nail on the head. The idea behind alternate fuels is to lessen dependence on foreign oil and help cleanup the enviroment.

    On the other hand it has no real benefit to unions or big banks with the oil and natural gas prices low.

    Anyone know where I can get a TARP without having a Lobbyist?
    Jul 07 06:38 PM | Link | Reply
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    When he sat down with Mr O-O I wonder what was said to shoot down NG. Electric is where the lobbyist are (and GM,Chrysler) well those coal fired plants are being updated in 2012. Wait to you see my cap and trade...Im starting to sound like Jon Stewart doing Bush ,we digress into cartoonland
    Jul 07 08:30 PM | Link | Reply
  •  
    Too bad the referenced article has zero references to support any of its assertions. I say too bad because I agree with most of the assertions....
    Jul 08 08:50 PM | Link | Reply
  •  
    The Natural Gas side of the Energy equation is less lucrative and therefore less desirable to those who measure National progress by the " less than almighty" dollar.
    The Bean Counters and political hacks DO NOT put into the equations they use, the effects and costs associated with the continued use and cost of foregin oil as it pertains to terrorism.
    When the politics of this nation has achieved the bi-partisan goal of BOTH political parties to convert us to a third world power then lets all be surprised at the $$$ it takes to buy 42 gallons of oil.
    Give Congress an Enema.
    Jul 09 07:55 AM | Link | Reply
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