What do you think of the "Pickens Plan"?

Replies to This Discussion

Permalink Reply by Rhett N. Cochran on October 29, 2008 at 9:13am

I like it. I've seen his plan profiled on 60 Minutes and I've taken a look at his website. Of course, I'm no expert, but it shows some creative thinking. Obviously, this guy didn't get to where he is without knowing what he's talking about.

Part of the problem with alternative energy sources is that the technology has severe limitations. Solar panels, for example, only convert about 20% of the light that they receive into energy. I saw something on Discovery Channel that stated for Solar Energy to be TRULY viable, the panels would have to capture a wider portion of the light spectrum - not just the visible light. Put another way, solar panels need to capture as much available light, including infrared and ultraviolet, as possible or the northern states can't use it in the winter!

▶ Reply to This

Permalink Reply by Pat Coyle on October 29, 2008 at 9:19am

From what I see his plan stresses wind power.

▶ Reply to This

Permalink Reply by Rhett N. Cochran on October 29, 2008 at 10:19am

It does, but there are tech shortcomings there as well. I mentioned Solar because I know that Solar has been in the discussion and I have had limited personal experience with it. But presumably, as with most things, wider use and greater investment will result in tech breakthroughs which will cause exponential expansion!

▶ Reply to This

Permalink Reply by Steve Stuck on October 29, 2008 at 10:09am

His plan is very viable. So viable that Nancy Pelosi and her husband has purchased $100k of his stock that is listed on the NYSE.

The only thing I see the problem with is Natural Gas vehicles in the northern US. I know natural gas lines can freeze in some cold areas. I would switch my vehicle to natural gas. (Writers note: I own shares in CREDO Petroleum Company this is not to boost my portfolio).

Government regulation, it will either bring him down or allow him. Just watch for the lawsuits to start flying off the wall from certain groups. Pickens has also stepped up and said we need to also drill for short term usage. When he first came out he didn't, but somethings have changed his opinion in most recent stump speeches.

Wind power is being used by an oil company in Texas. They have upgraded their transmission lines from their wind turbines in their oil fields to Dallas/Ft. Worth area to carry more power. Up to 7 million more homes will be using wind power in 10 years. Monthly bills will only go up about $7 in the beginning, then after that they should start declining.

▶ Reply to This

Permalink Reply by Chad Gramling on October 29, 2008 at 11:47am

I read about Pickens in Fast Company a few months back. The idea an dplan excited me and I am glad to see it's catching interest in other outlets (no pun intended). I hope it at the very least proves that the idea has merit and encourages others to think creatively about developing other alternatives.

▶ Reply to This

Permalink Reply by Gus Pearcy on October 30, 2008 at 7:02am

Whether or not Pickens makes any money should not effect this deal. We should look at its merits which I believe could work.

Jealousy over his financial investment may take hold, but I think Natural Gas is a better alternative than biofuels.

I still believe the final destination for transportation fuels will be hydrogen and that all these measures will not stand teh test of time.

▶ Reply to This

Permalink Reply by Rhett N. Cochran on October 30, 2008 at 8:22am

Yeah, Gus, there will be some who take pot shots at him because he's rich and, of course, one's wealth MUST be directly proportional to their evil.

I've never understood that. Do we really want an abject failure to lead an initiative like this or maybe, just maybe, does it make sense to have someone who has made himself and others literally BILLIONS of dollars because he's so good at it.

▶ Reply to This

Permalink Reply by Stephen James on October 30, 2008 at 9:17am

I like the strategy. Experts say we are going to have transmission and storage issues getting the power from the MidWest to the power hungry seaboards. I'm not sure if the estimates are accurate for the amount of money it will take to build this transmission upgrade. Electrical power should be local or it complicates things. It will be a boon to the MidWest (much more for Illinois than Indiana due to the speed of wind). I'm less excited about the natural gas powered commercial vehicles.

▶ Reply to This