T. Boone hard-wired for subsidies

Financial Post ^ | July 24, 2008 | Jerry Taylor

[PugetSoundSoldier]

T Boone Pick-your-pocket wants the $23.37 per MW Hour subsidy that wind gets. That 4500 MW windmill plant he wants to make? He'll get $945 MILLION a year in Federal subsidies. Not including the fact that the Federal Government will pick up 90% of his initial deployment costs. He'll spend $600 million to make $945 million annually, not including the profit for selling that power.

And Federal and State laws will REQUIRE that his power be purchased first, before any other power, regardless of cost.

He'll get PAID to make power, and he will get GUARANTEED BUYS of everything.

If Pick-your-pocket was honest, and really wanted to help us not buy oil from anywhere, he would be pushing shale oil. We could, in 10 years, produce all 20 million barrels a day of oil that we consume. And we could sustain that rate for 280 YEARS on just the oil shale we have in this country. And do it at $40 per barrel.

Meaning the current 7 million barrels a day we produce could be sold on the open market, bringing $280 million a DAY into the US in petroleum sales.

And we don't have to drill in ANWR, or the coasts, or anywhere else. Just drill and process the oil shale in Utah, Wyoming, and Colorado.

Pickens is just about picking your pocket via the force of Government. He's found it cozy and well paying to be in the same role as Al Gore...

[CdMGuy]

T. Boone Pickens is out to make a fast buck at the expense of the American taxpayer. I live in an area filled with hundreds of wind turbines. This is one of the greatest hoaxes perpetrated on us. You have to have oil, gas, coal, hydro or nuclear generating stations to provide power when the winds do not blow. Plus, even though the wind is free, it costs MORE to generate electricity by wind than by any other means. Ask yourself how that can be.

[nomorelurker]

The self professed capitalist should then simply fund his own project without trying to reach into my pocket.

[VOA]

Pickens is just about picking your pocket via the force of Government.
He's found it cozy and well paying to be in the same role
as Al Gore...

Thanks.
Nice to know where some fellow Freepers really stand.

[calcowgirl]

I'm sick of seein' his commercials knowing that he's working a massive propaganda campaign seeking support for Congress to pass more federal mandates and subsidies. It seems many are coming to the same conclusions. Here is another:

Blowing Hot Air Up Our Shorts

(snip)

A successful oilman, investor, deal-maker and speculator, Pickens’ large natural gas holdings position him to make billions from selling gas for backup electricity generation under his wind energy proposal – especially if drilling bans remain in effect, keeping gas prices in the stratosphere. Launching the enterprise with the backing of federal mandates and subsidies minimizes his financial risk and attracts “free market” investors, by putting the risks for this fanciful scheme on the backs of taxpayers.

In short, Pickens’ proposal is “true green” – in the financial and public relations arenas, though hardly in the ecological sphere.

Pickens says we can’t drill our way to freedom from foreign oil. But that’s true only if we keep our best prospects off limits to drilling. Open ANWR and the OCS, and the situation changes dramatically.

(snip)

It’s increasingly obvious why Gore, Hansen and Reid are becoming more shrill and hysterical by the day. The hot air they are trying to blow up our shorts is no basis for economy-killing cap-and-trade rules or ecology-killing forests of wind turbines.

[Balding_Eagle]

Wind energy receives 100 times the subsidies that oil does for energy production per KWH. Sources: Energy Information Administration, Forms EIA-906, "Power Plant Report;" Form EIA-920, "Combined Heat and Power Plant Report;" October 2006-September 2007.

[Balding_Eagle]

Hey, thanks for showing up.

I forgot who to credit for finding the 100x subsides info in my above post.

EVERYONE that infor was thanks to PugetSoundSoldier

[VOA]

The self professed capitalist should then simply fund his own
project without trying to reach into my pocket.

I agree with that.
If no subsidies are forthcoming, we'll see how serious he truly is.

It will also be interesting to see who we curse when we're importing
about 99% of our petroleum.
Which seems to be just one-percent short of the objective of
Democrats.

[Carley]

Funny how the left is in love with this 80 year old man with tax subsidies dancing in his head, but disrespects the 71 year old McCain.

[Senormechanico]

How about you two using “Private Reply”?

[PugetSoundSoldier]

You bet! Pickens is looking for a boondoggle and massive subsidy payout all in the name of green energy.

If that’s not out of the Al Gore playbook, what is?

- Pickens states we can’t drill our way out of the current crisis. It’s provably false, but is the mantra of the watermelon leftists.

- Pickens wants the Government to pay him the subsidies to generate wind power. Not only forcing you to buy his power, but forcing you to pay a LOT more than just the electric bill says (because he’ll get subsidies). Just like forced mileage standards, CFL use, etc.

- Pickens plan will transfer literally BILLIONS of tax dollars to his pockets. Wealth transfer in the extreme.

So what’s conservative about that? And how is it fundamentally different than the schemes Al Gore is running?

[calcowgirl]

T Boone Pick-your-pocket wants the $23.37 per MW Hour subsidy that wind gets. That 4500 MW windmill plant he wants to make? He'll get $945 MILLION a year in Federal subsidies. Not including the fact that the Federal Government will pick up 90% of his initial deployment costs. He'll spend $600 million to make $945 million annually, not including the profit for selling that power. And Federal and State laws will REQUIRE that his power be purchased first, before any other power, regardless of cost. He'll get PAID to make power, and he will get GUARANTEED BUYS of everything.

Just damn.

Thanks for posting (and for the link).

[PugetSoundSoldier]

It will also be interesting to see who we curse when we're importing about 99% of our petroleum. Which seems to be just one-percent short of the objective of Democrats.

Here's the point: we don't have to import a SINGLE DROP of oil from ANYWHERE - Canada, Mexico, Saudi Arabia, Venezuela, Nigeria. NO imports required AT ALL.

We have 62% of the world's 3 TRILLION barrel oil shale reserves, meaning we have around 1.9 TRILLION barrels of oil.

That same oil shale can be converted to liquid crude for $40 per barrel on average. About 1/3rd of the current price of oil on the world market. Meaning we can slash the price of gas, heating oil, and all oil products by 1/3rd. Putting gasoline around $1.35 per gallon.

Current US consumption is 20 million barrels a day, and we import 12 million barrels a day.

Now do the math. At full consumption, 1.9 trillion barrels will last about 95,000 days. Or 260 years. At current import levels, we'd last 433 years.

Add in the proven reserves in the US currently being tapped, and we have at LEAST 300 years of the full 20 million barrel per day consumption, all within the US, all without drilling ANWR or any offshore area.

Given these HARD FACTS, T. Boone Pickens is simply LYING when he says we can't produce enough oil domestically. Flat out, bald-faced. And it's meant to get you to have sympathy with his position, view him as a "savior" with his massive taxation scheme called wind power.

You want to solve the energy crisis? Pressure Congress to lift the oil shale ban. Don't push for ANWR, offshore, or any other drilling. Oil shale alone. Nothing more is needed.

Pass this information along to your liberal friends - the facts come from the DOE and Wikipedia, hardly left-wing sources! It's inescapable proof that we can produce our own oil.

And it's proof that Pick-Your-Pocket wants to steal your money via a massive tax and wealth transfer.

[calcowgirl]

Funny how the left is in love with this 80 year old man with tax subsidies dancing in his head, but disrespects the 71 year old McCain.

The left disrepects McCain? Before this election, he was their best friend. McCain/Feingold, McCain/Kennedy, McCain/Kerry, McCain/Lieberman, etc. They'll be perfectly happy with McLeft's policies if he wins, they just like the Messiah a little better.

[PugetSoundSoldier]

Hey, thanks for showing up

My pleasure. Not much gets my dander up more than a capitalist taking on the mantle of the watermelons like Al Gore and STEALING - through the force of Government taxation - from you and me to line his own pockets.

Pick-your-pocket may have been an honorable man at one time, but now he's no worse than an enviro-Scrooge, keeping every penny and treating the US taxpayers as the Cratchits... Take our money for his own use.

[latina4dubya]

i cannot stand his commercial... since the first time i heard it, i call out, “liar, liar, liar!” to all his claims... such as, “this is one emergency we cannot drill our way out of.” i knew he was in it for himself...

[Ditto]

MI<“First, oil imports are not the cause of high gasoline prices”

People say this all the time and I have yet to hear a logical explaination. Cut the US supply of oil by 65% and then see what the price would be.

If you think you can be an island in a global market, you will quickly find out that you are a leaky raft.

[Army Air Corps]

Also, if we make more oil available on the market, that improves our balance of trade and improves the value of the dollar.

[Squantos]

Oh I sorry if we were too loud.........didn’t mean too bother.