Pickens bails on wind; pushing "Natural Gas Act" through by greasing sponsor's palms

[wtmusic]

Remember the Pickens Plan, where we were promised zillions of power-generating wind turbines which would be backed up only when necessary (i.e., most of the time) with natural gas? Seems the public didn't buy the wind part of the equation, so T. Boone has dropped the pretense and is hellbent on ramming legislation through which would amount to huge taxpayer giveaway to one man and his industry:

The T. Boone Pickens backed Natural Gas Act has a "real chance" of finding its way through Congress and on to the President's desk by Memorial Day, according to Congressman Dan Boren, the bill's author.

And while the act is not likely to be a part of a major energy overhaul, according to Congressman Boren, it's likely it will get tucked into a jobs bill or another catch all piece of legislation before the end of May.

The Natural Gas Act includes provisions to increase the use of gas amongst government and private consumers. The goal, according to the Congressman, is to, "make sure we have a demand for natural gas." wtmusic: I'm sure it is.

<>

The Natural Gas Act includes specific provisions for the promotion of sale of natural gas and natural gas powered vehicles:

* By increasing the lifetime of the Alternative Fuel Credit and including compressed natural gas and liquefied natural gas as fuels
* Providing tax credits
for the purchase of natural gas vehicles
* Defining natural gas vehicles as alternative fuel vehicles
* The lesser of $4000 or 10% of manufacturing cost in credit to the manufacturer for the production of a natural gas powered vehicles
* Including natural gas in the scope of alternative fuel stations eligible for a tax credit
* The lesser of $100,000 or 50% of the cost of building a natural gas refueling station as a tax credit to the taxpayer
* Requirement that 50% of the federal government's new fleet vehicles by 2014 be operational on natural gas
* Up to $30 million in Energy Department grants to natural gas vehicle developers yearly

Democratic Rep. John B. Larson and Republican Rep. John Sullivan, two sponsors of the Natural Gas Act, have received campaign donations from Clean Energy Fuels Corp. of $6,250 in 2010, according to OpenSecrets.org.

http://www.businessinsider.com/congressman-natural-gas-act-has-real-chance-of-meeting-t-boones-may-deadline-2010-4#ixzz0lPYf4qa6

[ashling]

1. The big wind

Chicago is known as the windy city not because it is windy there. The newspapers in New York dubbed it that back in the 1890s when Chicago was trying to promote itself as bigger and better than New York.

That is the extent of Pickens' interest in wind as well. It was always a ruse to be able to jack up the value of his interests in natural gas.

Pickens is nothing if not a self promoting con man.

[DefenseLawyer]

2. It is windy as hell in Chicago though

It comes in off the lake and it's freezing. But really, did anyone ever buy T. Boone's load of manure about alternative energy? It was obvious from the beginning what his game was.

[madokie]

5. Only good thing about t-bone is he gives Oklahoma State University lots of money

Pretty much everyone here in the E/E forum seen through his shit as he was promoting his wind to begin with.

[OKIsItJustMe]

3. Pickens takes Texan turbine dream north

http://www.businessgreen.com/business-green/news/2261380/pickens-takes-texan-turbine

Pickens takes Texan turbine dream north

Having seen his plans struggle in the Lone Star state, oil magnate T Boone Pickens is reportedly poised to revive ambitious wind energy project in Minnesota

Danny Bradbury, BusinessGreen, 15 Apr 2010

US oil magnate T Boone Pickens may have found another home for his mammoth wind farm project, following his failure to get the ambitious plans off the ground in Texas.

Pickens, who postponed his original plans for a Texas-based wind farm indefinitely in January 2009 following the market crash, is reportedly now planning a smaller project in Minnesota.

According to reports in the Minneapolis St Paul Star Tribune, spokespeople for Pickens have revealed that Goodhue, Minnesota will be the site for a proposed 78MW wind farm that is currently in the permitting phase of development.

A joint venture between General Electric and Pickens' own company, Mesa Power, is expected to finance the project, while a power purchase agreement with Minneapolis-based Xcel Energy reportedly guarantees a customer for the wind farm's electricity.

...

[skids]

4. No surprise there.

Walked like a duck, quacked like a duck, was a shameless money grubbing duck.

I do often wonder why people this old and rich are so obsessed with continuing
to grow their personal financial empires, even to the extent of elaborate
pretenses, rather than just enjoying the rest of their years and taking some
gratification in improving the world.