Posted on 07/11/2009 11:36:36 AM PDT by AKSurprise
Texas oil billionaire T. Boone Pickens said on Wednesday he has delayed his plan to build the world's largest wind farm in the Texas Panhandle, blaming financing problems and transmission limitations.
"I didn't cancel it," Pickens said after a press conference on Capitol Hill. "Financing is tough right now and so it's going to be delayed a year or two."
"I had hoped that Pampa would be the starting point, but transmission issues and the problem with the capital markets make that unfeasible at this point," Pickens said in a statement. "I expect to continue development of the Pampa project, but not at the pace that I originally expected."
Pickens said he did not think the postponed project is a setback for the wind industry because all sectors are having trouble finding financial backers in this economic climate.
(Excerpt) Read more at reuters.com ...
Waiting for the Crap and Trade dough to start flowing.
I think Pickens realizes that the Cap and Trade, err Tax, Bill will either be shelved or eventually voted down if its current form does not change substantially.
The Cap and Tax would have provided financing for such projects along with funds for connecting such projects to a/the grid(s).
Pickens deviated from the tried and tested paradigm of fiscally sound business plans to yield a profit, and instead dabbled in feelgood hippy dreams and got burned.
“..blaming financing problems ...”
Meaning he couldn’t get the politicians to pony-up enough tax-payer money to build it for him.
There is a lot of environmental opposition to these supposed “Green” projects
Pressure to build transmission lines imperils farmland
AgAlert
Issue Date: December 10, 2008
By Christine Souza
Assistant Editor
An increased demand for electricity and renewable energy has resulted in a number of utility-proposed transmission line projects being considered throughout the state. While farmers and ranchers appreciate the need for improving the electric grid, they worry that some of the transmission projects could treat farmland as a thruway and unnecessarily remove prime land from production.
“The pressure is on to ensure that the state’s transmission infrastructure is in place. We are tracking a number of transmission line projects being proposed statewide and we urge that the utilities listen to the landowners,” said Karen Norene Mills, California Farm Bureau Federation associate counsel and Public Utilities Department director. “If the line is truly needed, we encourage that its development is done in such a way that results in the least harm to farmers and ranchers.”
http://www.cfbf.com/agalert/AgAlertStory.cfm?ID=1191&ck=B20BB95AB626D93FD976AF958FBC61BA
Transmission issues are always going to be a problem with wind. People don’t tend to live in large numbers where the wind blows enough to generate electricity.
...The rest of US that work, aren't going to get that shot. don't want that notoriety, work every day till we die...
...I'm OK with that, but the government is going to put restrictions that won't even look out for me...
Come on, with all the profits expected from these wind farms investors should be tripping over themselves to back this.
I firmly believe that if there were any money to be made in "green jobs" we wouldn't need crippling government subsidies for this.
Pickens delays wind farm on finance, grid issues (No “Green Jobs” this year)
Or next year or the year after.
With ZERO leadership from the White House, unemployment will continue to rise.
How big would the wind farm be? Hundreds, maybe thousands of acres I am sure. And how big would a modern mini nuke plant producing the same amount of power be? Maybe the size of a double wide?
The report is produced by economics professor Juan Carlos of the University of Madrid, who has found that for every green job "created" by the Spanish government, an average of 2.2 other jobs have been destroyed. And, of those fabulous green jobs, only 1 in 10 was permanent.
"Spain’s experience cited by President Obama as a model reveals with high confidence, by two different methods, that the US should expect a loss of at least 2.2 jobs on average, or about 9 jobs lost for every 4 created," writes professor Gabriel Calzada in an introduction to the study.
"The study's results demonstrate how such 'green jobs' policy clearly hinders Spain's way out of the current economic crisis, even while US politicians insist that rushing into such a scheme will ease their own emergence from the turmoil," Calzada writes.
Oh, .....wind farms DON’t have a future after all. If it’s such a winner, maybe Buffet will invest-———NOT.
i hope he goes bankrupt and never puts up one windmill!
With a solid off-taker, banks would lend him around 50% of the costs as well.
Sounds like he's full of hot air himself.
T Bone is busy building up the Okie State football team.
...(((, Right on! If not enough folks for a town, a community, sort of like a commune, everyone in the neighborhood looking out for their neighbors. No governance organized yet. What you do behind your doors is not my business, as long as you do it to yourself, or with consenting partners. The Constitution and Rule of Law is important to me, to a point. If I have some friends over in my house, and I say “Don’t bogart that joint my friend, pass it over to me”, I’d not want DEA breaking my front door down to arrest me for violating Federal laws, they’ve made too many, and made us criminals of things we don’t know about...
...I breed gerbils to feed my reptiles. While they’re waiting to get eat, I have them running on wheels, providing wind fans to cool me off, and selling power back to the federal government for credit. It’s not payment for carbon; hot air, back to them, which is all they’ve spewed out as of late...
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