The Pickens Plan gets scrapped

[SickBeast]

CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

 

[Overgloc]

Maybe because he knows it's wont work?

 

[Vette73]

Yep he wanted free tax payer money but wanted to keep the asset for his ownership.

 

[LegendKiller]

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

Personally, I think it's great that this mofo loses every cent.

http://www.popularmechanics.co...nce/earth/4275059.html

Not only because of that, but also because he was a big reason for oil going up to $150/bbl, he was pumping that shit like crazy so he could make billions more.

So add this up. He pumps oil because he's heavily invested in it, he also gets in on wind, while holding thirsty people hostage because he owns the water.

Nice diabolical plan there Pickens.

 

[dphantom]

It was nothing but a sham from the start. Just like the natural gas plan, he wanted the government to guarantee to buildout while he and his company would reap the profits. No risk to him if he could pull it off.

 

[SickBeast]

Originally posted by: LegendKiller

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

Personally, I think it's great that this mofo loses every cent.

http://www.popularmechanics.co...nce/earth/4275059.html

Not only because of that, but also because he was a big reason for oil going up to $150/bbl, he was pumping that shit like crazy so he could make billions more.

So add this up. He pumps oil because he's heavily invested in it, he also gets in on wind, while holding thirsty people hostage because he owns the water.

Nice diabolical plan there Pickens.

Yep.

According to this Wikipedia link, the transmission lines for the project would cost between 64 and 128 billion dollars, which would be paid for by the government. What a joke! So he wants to invest $1 billion and then reap all the profits when the public invested 99% of the money?

I can see now why this idea failed.

Also, if you look at the wind map in that Wikipedia article, the Great Lakes are a way better place for wind power, plus there are transmission lines already in place. Here in Toronto they are planning to create a massive wind farm on Lake Ontario across the southern edge of the city. They say it will power over 350,000 homes.

 

[Genx87]

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

I'd guess he wouldnt make enough off it to justify plowing all of his wealth into it. It required a combination of private and public funding.

I have also heard his true motive behind this was to suck the aquafier dry and pump it south to Dallas from the panhandle. He apparently managed to get one of his farms classified a town, which then appointed two of his employee's mayor, who then voted to make themselves a water utility which then allowed them to employ eminent domain to build the pipelines to Dallas.

Edit: Hehe should have read the rest of the thread. Looks you already have it covered

 

[Genx87]

Originally posted by: SickBeast

Originally posted by: LegendKiller

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

Personally, I think it's great that this mofo loses every cent.

http://www.popularmechanics.co...nce/earth/4275059.html

Not only because of that, but also because he was a big reason for oil going up to $150/bbl, he was pumping that shit like crazy so he could make billions more.

So add this up. He pumps oil because he's heavily invested in it, he also gets in on wind, while holding thirsty people hostage because he owns the water.

Nice diabolical plan there Pickens.

Yep.

According to this Wikipedia link, the transmission lines for the project would cost between 64 and 128 billion dollars, which would be paid for by the government. What a joke! So he wants to invest $1 billion and then reap all the profits when the public invested 99% of the money?

I can see now why this idea failed.

Also, if you look at the wind map in that Wikipedia article, the Great Lakes are a way better place for wind power, plus there are transmission lines already in place. Here in Toronto they are planning to create a massive wind farm on Lake Ontario across the southern edge of the city. They say it will power over 350,000 homes.

The plains would probably be the best place for wind power. North and South Dakota have notorious winds, especially ND. It was a rare day Fargo wasnt besieged by a strong wind coming off the plains from the West when I went to school there.

 

[MotF Bane]

Originally posted by: Genx87

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

I'd guess he wouldnt make enough off it to justify plowing all of his wealth into it. It required a combination of private and public funding.

I have also heard his true motive behind this was to suck the aquafier dry and pump it south to Dallas from the panhandle. He apparently managed to get one of his farms classified a town, which then appointed two of his employee's mayor, who then voted to make themselves a water utility which then allowed them to employ eminent domain to build the pipelines to Dallas.

Edit: Hehe should have read the rest of the thread. Looks you already have it covered

Whiskey...

 

[bamacre]

He was on TV last night all but praising the cap & trade bill.

 

[JS80]

Pickens is a piece of shit dirtbag.

 

[RyanPaulShaffer]

Originally posted by: bamacre
He was on TV last night all but praising the cap & trade bill.

Of course he was. He can get the people's tax dollars to fund this "green project", reap all the profits and get a pat on the back for being a "global champion."

 

[PingSpike]

Originally posted by: MotF Bane

Originally posted by: Genx87

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

I'd guess he wouldnt make enough off it to justify plowing all of his wealth into it. It required a combination of private and public funding.

I have also heard his true motive behind this was to suck the aquafier dry and pump it south to Dallas from the panhandle. He apparently managed to get one of his farms classified a town, which then appointed two of his employee's mayor, who then voted to make themselves a water utility which then allowed them to employ eminent domain to build the pipelines to Dallas.

Edit: Hehe should have read the rest of the thread. Looks you already have it covered

Whiskey...

So was this the basis for that last James Bond movie?

 

[her209]

You mean he was in it to make a profit? I'm shocked! Shocked I tell you!

 

[Robor]

Originally posted by: Marlin1975
Yep he wanted free tax payer money but wanted to keep the asset for his ownership.

Who does he think he is? A pro sports team owner!?!

 

[StageLeft]

He has a net worth of $3b and that article says the project was $12B.

The guy is 81. He'll be dead soon. Why doesn't he just give it all into this project, that would be cool.

 

[Sacrilege]

Originally posted by: Skoorb
He has a net worth of $3b and that article says the project was $12B.

The guy is 81. He'll be dead soon. Why doesn't he just give it all into this project, that would be cool.

They should just build the wind farms off the coast. Then the transmission lines are a smaller problem. 75% of US electricity is used along the coast, not in the middle of the country. If people don't like seeing them just build them over the horizon.

 

[Craig234]

SOB had two strikes against him getting support for anything from me, his funding of the swift boat liars. There are plenty of decent people to lead the energy measures.

 

[dmcowen674]

Originally posted by: SickBeast
CNN link

This is bad news. He's blaming the economy, however he was trying to get funding from the federal government. I have a feeling that it fell through and this is the true reason for him bailing on the plan.

What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

I bet not one Republican in here will applaud Obama for not giving in to Boone.

 

[dmcowen674]

Originally posted by: LegendKiller
Personally, I think it's great that this mofo loses every cent.

http://www.popularmechanics.co...nce/earth/4275059.html

Not only because of that, but also because he was a big reason for oil going up to $150/bbl, he was pumping that shit like crazy so he could make billions more.

So add this up. He pumps oil because he's heavily invested in it, he also gets in on wind, while holding thirsty people hostage because he owns the water.

Nice diabolical plan there Pickens.

Wow I'm truly :shocked: that you would go after your own kind.

Maybe there is some hope.

 

[ShockwaveVT]

Originally posted by: SickBeast
What I don't understand is why he doesn't just do it. The project costs $1 billion and he has $3 billion in the bank. He made his money off of oil. The least he can do is to pull off a project like this. In a sense it would negate all the environmental damage he has caused.

Even if the $1 billion figure is accurate (its not) he didn't make that $3 billion by throwing his money at projects that weren't going to be profitable.