Post by graybeard on Jun 18, 2008 3:59:31 GMT -6
It's amazing what you learn if you watch Cspan. T. Boone Pickens of corporate raider fame was among those testifying to a Senate committee on electric power line infrastructure yesterday. He has 50 years experience in oil, being the founder of Mesa Petroleum, and claims to have drilled more dry holes than anyone else.
It appears that Pickens has become a great believer in wind power to supplant coal and natural gas for electric generation. Among the nuggets I took from his testimony:
We are awash in natural gas, and could use what is freed up from electric generation to power our cars. CNG has been around for years, I know.
The US reached peak oil production at 10 million barrels a day in 1970, and are now extracting only 5 million a day. For every barrel of oil lifted, we have to lift 98 barrels of water. For every barrel of oil lifted in Saudi wells, they have to lift only about 6 barrels of water.
He said drilling in ANWR made no sense ten years ago, at $20 a barrel. It might make sense now.
We now import 70% of our oil, and Pickens doubts the govt guess that there are huge reserves off our coasts. We just cannot drill out of this predicament.
If the govt would build the power lines, private capital would put up the wind generators, making us more energy self-sufficent. I don't remember the percentage of our electricity that could come from wind, but Pickens is a great believer, and is sure it's our country's only salvation from economic ruin. It is estimated that wind power and new power lines would add only 50 cents to the average electric bill.
Is there a site that would have the transcript?
GB
It appears that Pickens has become a great believer in wind power to supplant coal and natural gas for electric generation. Among the nuggets I took from his testimony:
We are awash in natural gas, and could use what is freed up from electric generation to power our cars. CNG has been around for years, I know.
The US reached peak oil production at 10 million barrels a day in 1970, and are now extracting only 5 million a day. For every barrel of oil lifted, we have to lift 98 barrels of water. For every barrel of oil lifted in Saudi wells, they have to lift only about 6 barrels of water.
He said drilling in ANWR made no sense ten years ago, at $20 a barrel. It might make sense now.
We now import 70% of our oil, and Pickens doubts the govt guess that there are huge reserves off our coasts. We just cannot drill out of this predicament.
If the govt would build the power lines, private capital would put up the wind generators, making us more energy self-sufficent. I don't remember the percentage of our electricity that could come from wind, but Pickens is a great believer, and is sure it's our country's only salvation from economic ruin. It is estimated that wind power and new power lines would add only 50 cents to the average electric bill.
Is there a site that would have the transcript?
GB