Friday, September 05, 2008

Texas oil billionaire T. Boone Pickens wants to change how the nation generates energy — and he just happens to be building the world's largest wind farm - TwinCities.com
Pickens, who is worth a reported $3 billion made from oil and natural gas, is building the world's largest wind farm in Texas. He says the country can loosen the grip of foreign oil only by first erecting tens of thousands of wind turbines from Minnesota and the Dakotas down to Texas to produce at least 20 percent of the country's electricity in 10 years.

He wants people to tell Congress to extend the federal renewable energy production tax credit by 10 years. The tax credit has had a history of starting and stopping every year or two, and it expires again at the end of this year unless Congress takes action.

The second part of his plan calls for the government to mandate the use of natural gas instead of gasoline in trucks and fleet vehicles, Pickens said.

Consumer usage would be optional, he said.
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And Pickens also could profit handsomely if the next administration adopts his plan, with his large holdings in natural gas and growing financial interests in wind. But Jacobs dismissed critics who label the plan as another clever way for Pickens, a corporate raider in the 1980s, to make more money.

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