Thursday, May 22, 2008

Oil, education, wind and water...

Edmond, OK. Oklahoma ranked somewhere near second in the US in oil and gas production - that doesn't change the fact that gas prices still hover around $3.69 a gallon. Certainly not as bad as many have it, but it still stings.

There are some advantages for our area when oil prices are over $130 a barrel... Enter T Boone Pickens.

Hillary Clinton's plan to address soaring prices at the pump was one option of spreading the wealth. Pickens, founder and chairman of BP Capital Management, has other ideas in mind.

Today, adding to the already over $300 million previously given, T Boone announced that he's giving another $100 million to Oklahoma State University for academics. One of Pickens other companies, Mesa Power, ordered more than 600 wind turbines from GE this month for his $6 billion project announced last year described as the Worlds Largest Wind Farm. Pickens is taking some heat on his hopes to sell 200,000 acre-feet of water from the Ogallala Aquifer under the wind farm to North Texas.

Like Pickens or not, "What we need, now more than ever, are people with large capital who are willing to invest in the infrastructure”, writes a recent blogger. Having some of the OIL profits put back into Education and Alternative Energy projects help ease the pain at the pump a little... but not much!

Labels: guest blogger, oil and gas

posted by Scott R Chilcutt at 8:30 AM   0 comments

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