>> T. Boone Pickens is pumping billions in to wind farms
T. Boone Pickens has done the math, and concluded that wind farms (with their massive gubmint subsidies and tax breaks) will be a profitable business — for him, that is.
I wouldn’t conclude too much from that about T. Boone Pickens knowledge (or lack thereof) about oil price futures.
Spot on. With mandates in Texas for utilities to provide a certain amount of renewable energy, Pickens sees a guaranteed market with cost plus pricing. In short, there's a guaranteed return. There's no risk.
Remove the mandate and I bet you'd see a fast sell off of windmills.