Pickens Plan: Natural Gas - Wind Farms

Recently we analyzed the now famous Pickens Plan. T. Boone Pickens came out with his natural gas plan quite a while ago. In many ways it is more comprehensive than any government plan so far. With the swearing in of a brand new administration, what will happen to this plan?

The Pickens plan is a straightforward plan designed to wean the United States of foreign oil. At the moment we import 70% of our oil. At the moment the price of oil is on a down spike, but keep in mind that not long ago we were paying over $4 a gallon at the pump. Under the Pickens plan, the U.S. would shift to a natural gas economy. Meaning, our cars would be run on natural gas. We would also install many windmills (create over 20% of electricity) over the next five to ten years as well.

As the Obama administration takes shape, we know that renewable energy will be at the forefront of his goals. When he talks about infrastructure, much of this may in fact come in the form of better energy lines to handle the massive electricity created through wind farms.

Can this plan along a new administration work? We remain positive yet apprehensive. While congress may spend the money on new infrastructure programs, there are other factors at play. The banking industry is still in awful shape and the lending of dollars has come to a crawl making building large wind farms much more difficult. More important is the Auto industry is in extreme fluctuation and may still collapse. As we have seen from their concept cars, electric is what they are pushing for.

Regardless of whatever happens with the Pickens plan, it is a solid and well intentioned plan. Congress and countries should really take heed of the plan. This may help smaller countries use a similar idea to help wean themselves off of fossil fuels as well.

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