Friday, July 18, 2008

Can Wind Power the Economy?

There is an economic slump going on in the U.S. right now and this impacts the rest of the world. Can wind power make the difference in the economy. Recently, famed oil investor T. Boone Pickens released a wind energy plan. The economic stat that I find phenomenal is the U.S. will spend $10 trillion on oil over the next decade, of which $700 billion per year is sent outside the country. The basics of the Pickens plan are to use wind to generate electricity and convert the transportation fleet to natural gas. If an extra $700 billion stays in the U.S. per year I'm sure that would have an economic impact plus the carbon reduction. The U.S. would, in one move, dominate the environmental and economic debate from a position of leadership. Pretty phenomenal stuff.

A great economic analysis by William Ellard can be found here.

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