T. Boone Pickens, Jr., the Texas billionaire oilman, is planning to put billions into a 4,000 megawatt wind farm in Texas with the capacity to power 1.3 million homes.
Pickens said he will be purchasing GE Turbines to install in central Texas from 2010 to 2015 on a royalty share basis with landowners in order to obtain access to wind.
"The Department of Energy came out with a study in April of '07 that said we could generate 20 percent of our electricity from wind. And the wind power is -- you know, it's clean, it's renewable. It's -- you know, it's everything you want. And it's a stable supply of energy.This is an important offering from Pickens, the chairman of the BP Capital Management hedge fund, known as the "Oracle of Oil" with a personal net worth (in 2007) of 3 billion dollars...
It will be located in [the] central part of the United States, which will be the best from a safety standpoint to be located. You have a wind corridor that goes from Pampa, Texas, to the Canadian border. And it has -- the wind, it's unbelievable that we have not done more with wind. Look at Germany and Spain. They have developed their wind way beyond what we have, and they don't have as much wind as we do. It's not unlike the French have done with their nuclear. They're 80 percent power generated off of nuclear, we're 20 percent.
A turbine will generate somewhere around 20,000 [dollars] a year in royalty income [some of which to benefit those who put them on their land]. And on a 640-acre tract, you can put five to 10 of these on the tract. And you don't have to have them if you don't want them."
by Janet Ritz
Posted by The Environmentalist at 5/22/2008 07:09:00 AM
SUBSCRIBE TO: POSTS (RSS)