pickens plan – CleanTechies

Pickens Plan & Energy Policy Act Challenged By Earthjustice Suit

Even as the irrepressible T. Boone Pickens had to scrap his “Pickens Plan” on Tuesday, in part due to a paucity of transmission capacity, last week brought another hurdle for the chances of building out the transmission infrastructure that Pickens and the country will need to bring more renewable power on-line. Why am I not surprised that we are not all rowing in the same direction here?

Earthjustice and a dozen other environmental groups filed suit against the feds on Tuesday, challenging the designation of the national interest corridors called for in the Energy Policy Act of 2005.

07/12/2009 0 comment

Renewable Energy

T. Boone Pickens – greedy capitalist or caring environmentalist?

written by Tina Ngo

What would you do if you were worth $3 billion? T. Boone Pickens? Propose to build one of the largest wind farms in Texas, of course!

T. Boone Pickens, American financier and Chairman of BP Capital Management, ironically grew his wealth initially through mergers and acquisitions of oil and gas companies. From there, Pickens expanded his company, Mesa Petroleum, to be one of the largest independent oil companies in the world by 1981.

With his continued success came much criticism. During his peak, Pickens has been accused of being a “corporate raider” – investors who essentially direct or execute a hostile takeover of a company, often with the agenda of breaking up and selling various assets of the company to gain large profits. Though most of his attempts at corporate raiding failed, his endeavors drove the targeted company’s stock up, making Pickens and other investors millions of dollars.

07/10/2009 11 comments