T. Boone "$200 oil" Pickens gave up on his windfarm. He blames it on the credit market. I blame it on market forces. A collapse in energy prices will put the kibosh on schemes that demand taxpayers fund projects that should be paid for by the private sector.
An old video of mine:
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I'll bet you don't believe in chemtrails either.
I bet you don't believe the rainbows in sprinklers are because of the chemicals and heavy metals...
Boone was just looking to make more megamillions off the back of the taxpayer. His business model for this couldn't handle getting his product to market without having someone else pay for that. Fail.
Hey, I've got a great idea. My family owns a lot of forest down south. We could cut a lot of wood to sell to people in DC, where fools pay almost $200/cord for good firewood. But my mom can hardly give logs away for free, even pre-cut ones (seriously, we stacked a bunch by the roadside last Christmas with a sign that said "Free!").
I think that Congress could include in a compromise Cap and Trade bill a provision to give my mom a tax credit for the haulage and delivery costs of this green resource to cold winter places like Maryland where people need her product!
Some might argue that this would be an expensive handout to a narrow sector. Sure, maybe it is, but isn't it worth it to "save the planet"?!
The windmill farm idea was mostly just a tool to help him wrestle land and eminent domain for his water grabbing scheme in the panhandle.
There is a Business Week article online that goes into quite a bit of detail.
If he could wrangle some federal money out of the deal as a consolation, so much the better.
Seriously NoVa, I better get a carbon credit for my orchard. I fully expect the farm lobby to make it happen.
Cheers to special interests!
It better be a big orchard, or you'll be left out.
I get the feeling that the way things have been turning the last decade or so, big companies are now realizing that government regulation and "targeted credits" are no bad thing for them: When done right and allocated right, they can be useful tools to stamp out smaller competitors now and discourage new ones in future.
The windfarms were simply pander to the left...he wants to sell natural gas first...far as I know he never put one wind farm into operation...that said the Tax and Trade bill will make wind farms good investments by raising the prices of everything else, if not expect huge tax credits will make up the difference. The grid growns at about 1-2%/year, capturing just the growth plus normal retirements will be a boom.
Good point NoVa. No doubt it will only be the big guys. Probably they will over plant because their profit center is going to be the government not the market. Then they can buy out small producers who can't compete.
Paul writes,
During WWII there were can drives, paper drives, even fat drives.
Let's all do what we can and print 100's! We'll spend it in our local economy and get things going!
Let's not wait around like sheep, let's do what our forefathers would of done, and get in there and burn up some ink cartridges for Uncle Sam. He needs us.
The War for Hope and Change is won at your desk top printer! Get the whole family involved. Have neigborhood printing parties!
The biggest winner will be Goldman Sachs..they will bundle up the carbon credits to sell to rich people to avoid income tax increaes....so the rich get richer while pretending to do good, and the mob cheers them for their good intentions. Expect margional power plants to close as their grandfathered carbon credits will be worth more than the plants themselves and the mob will complain about higher energy costs which are the fault of the industry not making the right political contributions.
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