In 2008, billionaire T. Boone Pickens unveiled his ‘Pickens Plan’ on national TV, which calls for America to end its dependence on foreign oil by increasing use of wind power and natural gas. Over the next two years, he spent $80 million on TV commercials and $2 billion on General Electric wind turbines.
Unfortunately market forces were not favorable to Mr. Pickens, and in December 2010 he announced that he is getting out of the wind power business. What does he plan to do with his $2 billion worth of idle wind turbines? He is trying to sell them to Canada, because of Canadian law that mandates consumers to buy more renewable electricity regardless of cost.
On his website he says this about 2011-
We’re not going away. If I’ve learned anything during the many years of my business career it is this: No one has ever accomplished his or her goal by quitting or failing to meet and overcome a challenge. You reach your goal by hitching up your pants and wading back into the fight.
That’s what I’m going to do in 2011. And I know you’ll be with me.
Likely the market forces will have a say.
Here’s a video of his plan in better days-