Oil Baron's Wind Farm Hits Doldrums


	Oil Baron's Wind Farm Hits Doldrums

David Hughes

7-15-2009 3:34 PM

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David Hughes says:

There you are! A guy with billions to invest to make the U.S. less dependent on fossil fuels hits the "doldrums", and we know what they are!

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/253ba386-5681-4ffe-ad77-737bf492a236/530E9019-B356-406B-B215-375E51D0D1DA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html" href="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html" style="font-size: 11px;">edition.cnn.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><H1>  Oil baron's wind farm project hits doldrums</H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><P> <B>NEW YORK (CNN)</B> -- Billionaire oil man T. Boone Pickens is shelving plans to build the world's largest wind farm.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><div align="center"><img src="http://content6.clipmarks.com/blog_cache/edition.cnn.com/img/33B8DD0C-9AB4-4954-AC6D-39E7E5899B6F" alt="T. Boone Pickens says the capital markets will not support his plans to build the world's largest wind farm." /></div></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><P> The chairman of BP Capital Management announced Tuesday that his plans for the Pampa Wind Project, designed to generate 4,000 megawatts of electricity using thousands of wind turbines, is on hold.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><P> "I had hoped that Pampa would be the starting point, but transmission issues and the problem with the capital markets make that unfeasible at this point," Pickens told CNN's Ali Velshi. "I expect to continue development of the Pampa project, but not at the pace that I originally expected."</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><P>   The Pickens Plan was an attempt to wean the United States off foreign oil and switch to wind and natural gas. The project was to be set in four <A class="cnnInlineTopic" href="http://topics.edition.cnn.com/topics/texas_panhandle">Texas Panhandle</A> counties.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://edition.cnn.com/2009/TECH/07/08/pickens.wind.farm/index.html"><P>   <A class="cnnInlineTopic" href="http://topics.edition.cnn.com/topics/t_boone_pickens">Pickens</A> said he faced hurdles in routing the power from Texas to a distribution system. His plans were also stymied by a plunge in natural gas prices and a tightening credit market.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/530E9019-B356-406B-B215-375E51D0D1DA/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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