18 May '11, 1pm

Pickens drops wind from his energy plan, but industry remains

Pickens drops wind from his energy plan, but industry remains

Pickens drops wind from his energy plan, but industry remains ‘healthy’ and ’sustainable’, says analyst May 18, 2011 After becoming a leading spokesman for the development of wind in the U.S., T. Boone Pickens says he’s officially abandoning the wind portion of his “Pickens Plan,” which originally proposed getting 20% of American electricity from wind (along with using natural gas as a transportation fuel). According to a story in The Hill newspaper, Pickens claims he couldn’t make the economics of his plan work and is now focusing exclusively on pushing for natural gas: Pickens has now canceled the bulk of a $1.5 billion wind turbine order that he placed with General Electric last year and says wind power will not be profitable until the cost of natural gas rises from $4 to $6 per million British thermal units. That, he estimates, will happen by 2016. So, Pickens has turn...

Full article: http://climateprogress.org/2011/05/18/pickens-wind-plan/

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