T. Boone Pickens Lowers The Sails On Wind
Tuesday, July 21st, 2009Last week, T. Boone Pickens announced he was selling 667 Wind Turbines.
Due to the economy and drop in oil prices it’s just not economical to develop wind farms in the Texas panhandle. The wind energy market has lost a lot of it’s luster considering it can be much more expensive than traditional energy sources such as oil and with the price per barrel of oil dropping below $70 there’s just not as much interest putting together a wind energy project.
The economics of alternative energy will be the driving force of innovation and technology. As long as the prices stay low, there won’t be much advancement in the alternative energy sector, but as oil prices increase, you will see many more technologies and innovation coming from alternative energy sources.
