T. Boone Pickens drops plan for wind farms

Oil man turned wind man T. Boone Pickens announced yesterday that he will no longer pursue his giant plan to build wind turbines in the Texas panhandle that would have generated up to 4,000 megawatts of electricity when completed in about 4-5 years.

Financing is hard to get right now and falling oil and natural gas prices likely contributed to the decision. A lack of transmission lines also worked against him.

Rewind back to last year. Crude was $145 per barrel oil and soaring commodity prices provided the backdrop for his announcement as Pickens injected himself into the presidential campaign with his plan to use wind power for electricity and natural gas to power automobiles.

I'm sorry to see Pickens scuttle the project. The spending on wind turbines would have supported economic activity and provided a clean source of renewable energy at a time when the nation must continue to exploit all forms of energy.