The Pickens Plan is being delayed. Due to falling natural gas prices and the tight credit market, T. Boone Pickens is being forced to temporarily delay his huge Texas wind project, known as the Pickens Plan, which he’s promoting to wean the US off of foreign oil by switching over to wind and natural gas.
The proposed wind farm, at 4,000 megawatts, was going to be the largest wind farm in the world when completed. The shaky credit markets are causing lots of alternative power projects to dial back, but Jay Rosser, a spokesman for Mesa Power, Pickens’ company, says that “…we are still going forward with our wind business.” Pickens says that they are still buying the turbines for the first phase of the project, which will produce 1,000 megawatts of power. Pickens has also said that natural gas prices need to be around $9/Btu for wind power to be competitive – right now natural gas is priced at about $6/Btu. It was over $12/Btu last summer.