T. Boone Pickens has spent $60 million in the last year promoting the "Pickens Plan," an idea for a giant wind farm in Texas. Now, the billionaire oil man is saying he will postpone the project for at lesat a couple of years. The first hints that things weren't going as planned came last November, when PIckens couldn't get a loan to finance the farm. Pickens made the delay official yesterday, blaming the tight financial markets and trouble distributing the energy that was to be generated. The 81-year-old Pickens was valued at $3 billion in 2007.
Today, Pickens' told NPR that people still want renewables and that the wind farm will someday come to fruition. Until then, though, he's still touting natural gas as a replacement for oil and said he would find places to install the 667 wind turbines that he had already ordered for the farm. There's a video report on the cancellation after the jump. Thanks to Yanquetino for the tip!
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