In his Wall Street Journal commentary yesterday, Robert Bryce noted that “After 30 months, countless TV appearances, and $80 million spent on an extravagant PR campaign, T. Boone Pickens has finally admitted the obvious: The wind energy business isn’t a very good one. The Dallas-based entrepreneur, who has relentlessly promoted his “Pickens Plan” since July 4, 2008, announced earlier this month that he’s abandoning the wind business to focus on natural gas.”
To fully appreciate Mr. Bryce’s commentary, A Wind Power Boone-doggle, you might want to view this video debate between Mr. Bryce and Mr. Pickens back in January in which Mr. Bryce alerted Mr. Pickens that industrial wind business is “a scam from beginning to end.” Take a look:
The real lesson here is that T. Boone finally had the sense to abandon the wind business. But then, it is his own money and he cares what happens to it.
On the other hand, congress, who just extended billions in subsidies for this failed business, is using your money, and they frankly don’t seem to care that it’s wasted.
Visit the Robert Bryce web site: http://www.robertbryce.com/