T. Boone Pickens: What, me worry?
Billionaire T. Boone Pickens is spending $2 billion on a bunch of windmills and so far has no way to get the electricity they will produce to market. Last December he said he was a touch anxious, but on Wednesday he didn’t seem worried at all.
Pickens is pretty sure President Barack Obama will get some new power lines built to those plains in the Texas panhandle, but if need be, the oil-man-turned-renewable-energy-advocate will take his toys elsewhere.
“I’m not going to end up with 687 turbines in my garage. They are going to be sticking up spinning someplace,” he said at a San Francisco stop on his latest tour to drum up support for his plan to use wind power and natural gas-fueled vehicles to wean the Unites States from imported oil.
Pickens expects the price of a barrel of oil to hit $75 by the end of the year as OPEC cuts production, and between that and the desire for energy independence he sees Obama finding a way to get transmission lines built from Texas to markets that need electricity – like California.
One person at the event asked him if he could end up being the “czar” of transmission, production, and more. “Yeah, I’d love it,” the old independent “wildcat” oilman said.
But Pickens is not planning to build transmission lines himself, in part because of financing. “If you’re gonna be the czar of all those things you mentioned there, you’ve got to have a hell of a lot more money than Boone Pickens has got,” he said.