OIL KING SPREADING WIND WEALTH

The article mentions that Pickens, who is independently wealthy, finds wind turbines ugly whereas less financially blessed neighboring Panhandle ranchers say the turbines look as pretty as money to them.

Pickens begins signing up landowners for project
David Bowser, August 24, 2007 (The Pampa News)

WHO
T. Boone Pickens, CEO, Mesa Energy and reknown energy entrepreneur

Boone Pickens is a tough negotiator and a good guy to have on wind energy's side of the table.

WHAT
Mesa has begun signing up landowners at $4/acre upfront for participation in a proposed 4000-megawatt wind farm in Gray County. Landowners royalties could range from $50,000 to $80,000/yr, depending on wind and participation. 1000 new jobs from wind are expected, more from associated projects.

WHEN
- Pickens was in Pampa, Texas, August 23, negotiating leases.
- Regulatory approval of the project is hoped for in 2009, allowing construction in 2010.

WHERE
Pickens Pampa appearance was in the Heritage Room of the M.K. Brown Civic Center. Pickens owns a ranch in neighboring Roberts Count. Mesa Energy is based in Dallas.

WHY
- This will be the world’s largest wind farm, five times bigger than the next biggest, a 735-megawatt installation in Abilene.
- In addition to the wind installation, Mesa will build 320 miles of transmission lines to serve the rapidly expanding Dallas metropolitan area as well a supplemental 750-megawatt coal-fired plant and a peak demand 600-megawatt natural gas plant. The 5000+ megawatt undertaking is expected to cost $10.5 billion.
- Income to the landowners cannot begin util the installation and transmission lines are complete.

The new transmission is as important as the new turbines. (click to enlarge)

QUOTES
- Pickens: “We're getting down here to the point where we have to fish or cut bait…If you want to sell wind and sign up with us, you've got to know now the best deal you are going to get on wind is going to be with us. I promise you that is the case…There's not going to be many people that are going to be able to take the power out of the Panhandle and move it downstate…It's…pretty good-sized for a Roberts County guy…”
- Pickens: “I'm not having any turbines on my ranch…I think they're ugly is the reason I won't have any…You're going to have turbines in the Panhandle…I don't think there's any question about that, but we need to know whether you want to do business with us or not. If we don't have enough people who want to do business with us, we won't do the job.”