Federal Renewable Energy Mandates Make Good Ad Copy But Lousy Policy - Commentary: The Post Chronicle
A successful speculator and corporate raider, who critics say never actually found oil, Pickens has large natural gas holdings that position him to make billions from selling gas for backup electricity generation – 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 semi-free-market investors, by putting the risks for his scheme on the backs of taxpayers. A $58-million ad campaign could pay 100:1.
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