Is Boone Pickens History’s Boldest Rent Seeker?


Probably not, there have been some real doozies over the centuries, but he certainly is one of the boldest in the current era. Last year he made news with a cockamamie scheme to use government subsidies to build a zillion windmills out in the prairies, with the absurdly expensive power backed up by – wait for it – generators fueled by the natural gas in which he has substantial investments.

This week he’s proposing a slightly less byzantine but equally goofy scheme in the Wall Street Journal: “Adopting a ‘cash-for-clunkers’ program in the utility sector can save money and reduce emissions right away by retiring the oldest, least efficient and most polluting power plants in exchange for modern gas-powered plants.”

Yep, gas power plants powered by the fuel in which – wait for it – he himself has substantial investments.

You almost have to admire such gall. Almost.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: