Posted on 06/09/2008 5:47:17 AM PDT by Invisigoth
T. Boone Pickens has the wind up, so to speak, about oil. When the man who has been a savant of the oil patch for decades starts putting his own considerable fortune into wind farms, it is time to sit up and smell the alternative energy.
It is also time to stop worrying about the spiritual advisors of the presidential candidates and to start worrying about their energy advisors. With oil flirting with forward prices of $140 a barrel, the whole world is in trouble and the United States somewhat more so. More so because, out of the world's oil production of 85 million barrels a day, we gulp down an astounding 20 million barrels a day. Man are we thirsty! More so too, because oil is designated in dollars and the dollar has been dwindling in value for years.
Pickens is not alone in his despondency about oil. John Hofmeister, president of Shell Oil Company in the United States, is so alarmed at the rate at which the oil resource is being drawn down that he is taking early retirement to become the Paul Revere of energy, sounding the alarm. Not far behind Hofmeister and Pickens in concern is Robert Malone, chairman and president of BP America. The British oil giant is a major investor in wind and solar power and in the development of hydrogen as a fuel.
(Excerpt) Read more at northstarwriters.com ...
Spare me. The only gold mine Pickens sees in wind energy is from taxpayer subsidies.
bump for later
If you like $4/gal, Thank Congress.
Pray for W and Our Troops
John Hofmeister - isn’t this guy a Hillary supporter?
Put the blame for the energy crisis where it should be. That is right at the feet of the Rat congress and their enviro supporters. Drill here and drill now!
Yep... $23.37 per MWhr and a government mandate that utilities buy all the power you generate at the highest price they pay for energy anywhere. What’s not to love when you get 3/4 of a billion dollars in subsidies AND a government mandated 100% consumption market at the highest prices going?
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