Gas prices are taking America into a hole and there seems to be no getting out in sight. The country is importing almost 70% of its oil paying around $700 billion a year through its nose. This is one issue where we cannot drill our way out.
But now cleaner renewable and alternative source of energy is getting a push from a unlikely quarter. A man who made dough from oil.
Billionaire oilman T. Boone Pickens has come up with a Pickens plan and is going might-ho behind renewable energy sources like wind power.
Media is reporting that the plan calls for investing in domestic renewable resources and the usual green energy that we have been hearing for so long.
However one good thing to come out of this is that T Boone is also planning to build the world’s largest wind farm in Texas.
The Texan republican has started a company called Mesa Power that recently announced a $2 billion investment as the first step in a multi billion-dollar plan to build the world’s largest wind farm in Pampa, Texas.
According to him if the country takes advantage of the so-called “wind corridor,” stretching from the Canadian border to West Texas, energy from wind turbines built there could supply 20 percent or more of the nation’s power.
Big plans and dreams but according to skeptics, this idea has been on a drawing board for a very long time.
Personally I would say, give the high price right now and also since it shows no sign of stablizing, now is the time to make some serious investment in alternative sources of energy.
Of course, the govt has to show the will and determination in laying down industry favoring and leveling policies