Pickens Wind-Power Plan Comes To a Whimpering End

Posted by timothy on Saturday December 25, 2010 @02:34AM from the go-long-on-stocking-coal dept.

Spy Handler writes "In 2008, billionaire T. Boone Pickens unveiled his 'Pickens Plan' on national TV, which calls for America to end its dependence on foreign oil by increasing use of wind power and natural gas. Over the next two years, he spent $80 million on TV commercials and $2 billion on General Electric wind turbines. Unfortunately market forces were not favorable to Mr. Pickens, and in December 2010 he announced that he is getting out of the wind power business. What does he plan to do with his $2 billion worth of idle wind turbines? He is trying to sell them to Canada, because of Canadian law that mandates consumers to buy more renewable electricity regardless of cost."

1 of 346 comments (clear)

Min score:

Reason:

Sort:

Re:And so by Bemopolis · 2010-12-25 03:32 · Score: -1, Troll

Oil gets subsidized to a certain degree.
Less so than corn? So, when's the last time we invaded a country to protect the flow of ethanol?

--
"I guess the moral of the story is, don't paint your airship with rocket fuel." -- Addison Bain