T. Boone Pickens plans the world's largest windfarm
As the saying goes: everything's bigger in Texas. That's certainly true in the case of over-sized pickups and the state's carbon footprint, but soon the state that's obsessed with size will have yet another record to brag about -- the world's largest wind farm. Oil man turned green energy baron T. Boone Pickens has set his sights on building a 4,000MW wind farm on the Texas prairie. Knowing the billionaire's track record, he's likely to succeed. Starting next month, Pickens and his peeps will start buying up land and placing orders for the 2,700 turbines called for by the project. When the massive wind farm gets up and running, it's expected to produce enough energy for 1 million homes -- roughly the equivalent of 2 commercial nuclear plants. Nice.
Though he has been very receptive to calls for clean energy, he's not building this farm out of charity alone. According to Pickens, the return on investment might not be as high with renewable energy project as it is with petroleum, but he still expects to turn a profit of 25%. That's a cool $2.5 billion on this $10B project -- not too bad for a day's work.
While address students at Georgetown Universtiy, Pickens predicted that oil production won't rise above the current 85 million barrels a day because of the high depletion rates of existing wells. He says to get ready for oil prices to climb to $125 and then $150 a barrel.
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