Another “Green Energy” Success Story.

And here I thought this guy was a pretty savvy operator.

Guess not. But, don’t feel TOO bad for him.

From The Daily Caller.com. by Breanna Deutsch

Wind investments blow Pickens off the Forbes 400 list

T. Boone Pickens with some of his “investments”.

T. Boone, stick with THESE. THEY are what got you to where you are today. Always take home the girl you took to the dance.

Businessman T. Boone Pickens was dropped from the Forbes 400 list of richest  Americans after losing much of his fortune in the wind farming industry.

According to Forbes, Pickens’ fortune dropped below the $ 1 billion mark for the  first time since 2005. His net worth once amounted to an estimated $2 billion, but now  it sits at around $950 million.

He told the hosts of MSNBC’s “Morning Joe” that he had “lost his ass in the wind business.” He added, “the jobs are in oil and gas.”

In 2008, Pickens debuted his “Pickens Plan,” which aimed to increase the  nation’s use of wind energy and decrease America’s dependence on OPEC oil. With  the help of  investors he spent 80 million dollars on TV ads to promote  his plan and $2 billion on General Electric wind turbines. Pickens hoped that  once the wind farm was constructed, it would be the largest in the world.

The plan collapsed after natural gas prices fell and selling wind  power was no  longer economically feasible. He lost $150 million of his personal fortune on  the failed wind plan.

After his failure in the wind market, Pickens revamped his Pickens Plan to  focus on the use of natural gas as well as any other American-based energy  source.

He has made moves to convert all trucks from using gasoline to  natural gas. As part of this effort, he has encouraged Obama to use  subsidies in order to incentivize the trucking industry to make the switch.

Pickens says that this new endeavor is mainly an effort to “end America’s addiction to foreign oil,” though critics also  speculate that although the former  billionaire is now 84, profits are driving  his interest in energy policy.

The American energy man wants the world to know that he will be able to  survive living off of his mere $950 million. When ESPN’s Darren Rovell  confronted Pickens over Twitter about his new status as a millionaire, Pickens  tweeted, “Don’t worry. At $950 million, I’m  doing fine. Funny, my $1 billion charitable giving exceeds my net  worth.”

~

For a smart guy, T.Boone is slipping. This statement proves it:   “He has made moves to convert all trucks from using gasoline to  natural gas. As part of this effort, he has encouraged Obama to use  subsidies in order to incentivize the trucking industry to make the switch.”   No, T. Boone, the Obama cartel is the LAST place you want to go.

If YOU want to see the trucking industry make a wholesale switch from diesel to natural gas, fine. YOU take the lead on it. The GOVERNMENT, especially as run by THIS bunch, will simply screw that up like every other thing they touch.

Let me offer you some advice, Mr. Pickens. It is obvious you are a pretty sharp man, having made billions, and done a lot of good for many businesses that would otherwise fail. BUT, I believe that going to the government, which doesn’t know what end to put freight in, or where to put the fuel, has ZERO ideas on how to implement this.

I would urge you to seek out ACTUAL truck fleet operators, such as J.B. Hunt, Schneider, Swift, companies like that, who run HUNDREDS of MILLIONS of miles per year fleet-wide. If YOU can show THEM significant cost savings on fuel, which is their 2nd largest expense, right after labor, you WON’T NEED government to step in and screw up what COULD be a real BOON to YOU, T. Boone.

Having been a truck operator for over 35 years, Mr. Pickens, I can tell you in NO uncertain terms, you show a PROVEN way to cut a trucker’s cost of business, they WILL eat out of your hands.

In the meantime, I hear scrap prices for defunct wind turbines are right around $ 200 per ton. THERE is where you MAY see some “return ” on your “investment”. You can thank me later.

~

Clyde

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21 Responses to Another “Green Energy” Success Story.

  1. Mrs AL says:

    > “He has made moves to convert all trucks from using gasoline to natural gas. As part of this effort, he has encouraged Obama to use subsidies in order to incentivize the trucking industry to make the switch.”

    My husband person is working on a design that would all the capture of natural gas from the driver and would power the vehicle. Maybe Mr. Pickens would like to explore this idea, eh?

    • Mrs AL says:

      What happened to my reword of the second sentence? Drat!

      My husband person is working on a design that would capture the natural gas from the driver and would power the vehicle. Maybe Mr. Pickens would like to explore this idea, eh?

      • Clyde says:

        Probably be too hard on the upper valve train, and cylinder heads, along with the rings !! Trust me, some of that truckstop food CAN be deadly after the fact. Thanks, Mrs. Al.

        • Mrs AL says:

          Um, I happen to really like Truck Stop food! Grew up in Iowa. The truck stops in Davenport, for example, were great.

          BTW, don’t have a clue what an upper valve train is. I have heard of cylinder heads and rings but never could find any in the store to cook!

  2. Kathy says:

    You’re right, Clyde, he is slipping. These wind farms must be profitable for somebody because my little part of the world is absolutely covered with them. They’re still building new ones and trucking parts into huge work sites, so somebody’s making money.

    He sounds like a typical lefty blaming it on natural gas prices, when it was most likely bad money management and bad decisions in the personnel he hired.

    People toss around that “end America’s addiction to foreign oil,” a lot these days, especially in regard to making vehicles run more efficiently. Foreign or domestic, we’ll always need oil for the gozillion petroleum by-products we use in our daily lives, that they seem to forget about.

    • Clyde says:

      IF the government gave a good shit about “imported” oil, which it DOESN’T, there wouldn’t be all the fuss, and wailing and moaning about Keystone XL, fracking, etc etc. The wind farm EQUIPMENT companies are making a killing off it, no one else. Good comment, and thanks, Kathy.

  3. western guy says:

    OK, on the t-boone money loss…his original plan was to put up a large wind farm in the texas panhandle, get the easements to put transmission lines from there to the DFW area. Once he had the easements he was going to put in major water wells on his property and put the water pipeline down the easements to get the WATER to the DFW area. These were going to be at least 6 ft in dismeter. The amount of water he would have to pump to fill the lines would ultimate cripple the ogalla aquifer AND all the agriculture and towns that depend on that water….He would have made millions, many others especially in farming/ranching would have gone under. The folks in the panhandle rallied against it and he ended up NOT getting the easements, wind farm went belly-up and thousands of folks were saved….beware of what is good for t. boone, it is probably NOT good for anyone else.

    • Kathy says:

      Thanks for the good info – it sounds like he forgot just one little thing….the people.

    • Clyde says:

      Western Guy, first off, thanks for coming by, and secondly with the excellent information. I had ZERO knowledge of T.Boone wanting water for DFW. Good post, and thanks again. Now, take a bow!!

  4. pepperhawk says:

    Good one clyde.

    He was first interested in natural gas and powering vehicles with that and guess who joined with him for her own personal gain? None other that Piglosi. So she was promoting that for quite some time now. LOL! I hope she lost her botox over it.

  5. Garnet92 says:

    C’mon, did anyone really think that T-bone was looking out for the public good? I respect that he’s made billions (and I haven’t), but altruistic, he is not – he is in most everything for T-bone. He gambled on the wind farm in the panhandle and lost, tough. You win some, you lose some. But, I still am FIRMLY in the camp that wind farms are lunacy to begin with. Mark my words, in ten or twenty years, they’ll be occupying scrap yards or become tourist attractions with no impact on the electrical grid.

    • Mrs AL says:

      But did you know that windmill farms are killing Bald Eagles? Saw it on Fox. What happens when you shoot one? Off to the pokey or a great big fine, eh?

    • Clyde says:

      Agree down the line, Garnet. I’m not Pollyannish enough to think that T. Boone is some kind of saint. He, like MOST uber-rich, is a bit of a prick. Thanks for stopping in.

  6. Hardnox says:

    Thanks for the report about this. I don’t blame him for getting out in front when the getting was good for subsidies. Guess he didn’t get his share. I’m sure Pickens figured out by now the wind energy is a loser. Not a single enterprise on the planet survives without government money, er people’s money.

  7. Buck says:

    Yeah, T. Boone lost his ass.
    Any time a hustler is dumb enough to play another hustler’s game he’s gonna lose his ass.

  8. western guy says:

    I was in and out of the panhandle area at the time and kind of kept up with the news as I am located on the Ogalla aquifer….happy to help

  9. bullright says:

    Fantastic article, Clyde. Looks like Pickens found himself a nice boondoggle. So right about him doing business with Obama. What was he drinking when he dreamed that up?

    As you say, there are plenty of ways to approach the gas issue. I can’t see the truckers being thrilled about anything coming from the administration, so that’s a dead end. (what another mandate??) Another disenfranchised consumer is farmers. No one can be happy at doubling their fuel budget in the last few years. But that’s a problem Obama doesn’t have let alone understand.

    Hey Boone, now if you happen to have any really, REALLY bad ideas, the Obamastration will scarf them up like hot dogs on opening day.