Friday, July 25, 2008

Parsing The Pickens Plan


photo by vergel tolentino

CNN Money has a good article today that evaluates T. Boone Pickens' plan for moving the country to windpower, solar and natural gas vehicles, and Al Gore's challenge to move to non-carbon fuels over the next 10 years.

Wind power: A Reality Check
Plans are afoot to prod the nation into using much more renewable energy. Can it be done, and what's the cost?

By Steve Hargreaves, CNNMoney.com staff writer
Last Updated: July 24, 2008: 11:04 AM EDT

NEW YORK (CNNMoney.com) -- High-profile personalities have been telling the nation to ditch that dirty fossil fuel and turn to renewable energy.

T. Boone Pickens, the billionaire oilman, has been hitting the airwaves, pitching a plan to use wind to replace all the natural gas that's used to produce electricity, then using that saved natural gas to fuel cars.

In addition to weaning the nation from foreign oil, Pickens' plan is not entirely altruistic. He's investing hundreds of millions of dollars on a giant wind farm in the Texas panhandle, and his hedge fund, BP Capital, is said to own stakes in several companies that equip cars to run on natural gas. If his energy efforts pan out, he could get even richer in the process.

Then there's Al Gore. The former U.S. vice president and Nobel Prize winner said last week that electricity generation should be completely fossil-fuel free in 10 years.

The question is, are these plans realistic or just dreams?

No comments: