T. Boone Pickens Jr, Bets on Wind Power

T. Boone Pickens Jr. is one of Texas’s richest oil men who’s making a small fortune every minute thanks to the high oil prices. He’s also now seemingly setting his safety net by building the largest wind farm in the world (he says). The farm will have a 4,000 megawatts generating capability, enough to be able to power 1.3 million houses with green energy.

To become a Texas wind tycoon, Pickens is going to invest $12 billion in the project with an expected 15% – 25% return on the money.

“For a number of years I’ve watched the wind turbines develop—and I feel like it’s time for it. I think that oil has peaked at 85 million barrels in the world. We’ve got to other forms of energy – wind, I think solar will be next, and I hope I’m still around to be in the solar deal” Pickens said.

Though he’s not a fan of the current President, Pickens is confident that the federal wind energy production tax credit will pass Congress, because the United States needs to develop more alternate energy sources, including wind.

“We’re now importing 72 percent of the oil we use every day. I think everybody can see that we’re gonna break the country if we pay 700 billion dollars a year for, uh, imported oil.”

When a Texas oil man worth $3 billion (according to Forbes), bets against oil on renewable energy like wind or solar power you may want to think again which boat you’ll be in for the next few years.

Here’s the whole interview on the Living on Earth Show.

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