Is Boone Pickens History’s Boldest Rent Seeker?

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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.

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