Erik Larson

Nov 25, 2008

Sorry, Mr. Pickens, Loan Denied

One of the (many) unfortunate consequences of the Credit Crisis is its stalling effect on some very sensible alternative energy plans. The Pickens Plan , for one, which I support. The first phase of PP is wind energy; unfortunately Mr. Pickens, who wrote a book titled “The First Billion is the Hardest”, now can’t get financing for the project.

The New York Times reports also that Centrica, a British company, has halted expansion of its offshore wind farms project due to economic woes.

And with the price of crude plummeting, the sense of urgency for energy reform is all but gone. The OPEC yo-yo continues.