Texas billionaire T. Boone Pickens stopped in Lincoln Wednesday to present his plan to reduce America's dependence on foreign oil. Part of his plan involves using wind energy.
Lincoln Electric Systems has run two wind turbines for roughly ten years, and as Pickens proposes a wide-scale installation of wind farms in some parts of the country, LES officials say they'll be watching closely.
Pickens is on a public campaign to address America's big problem with dependence on foreign oil . Its a $ 700 billion dollar problem, but Pickens has a plan
"A fool with a plan beats a genius with no plan, and we wandered around this country has on energy for 40 years like a fool with no plan," he said.
Its the Pickens Plan, and if his non-partisan plan is put into action, he said it will cut America's reliance on foreign oil by 30 percent in ten years. How? The answer s partly by investing money in renewable wind energy.
"I see myself on wind. I've committed to a $10 billion wind project. I see myself as somewhat of a pioneer," he said.
He hopes wind power will reduce the demand for natural gas resources, which can be used to fuel cars and transportation.
But according to Doug Bantam with LES, wind power may not be a reasonable solution everywhere -- like in Lincoln.
"As far as LES resolving any power supply requirement with wind, that's probably not possible," Bantam said.
He said it all has to do with wind pattern, and it wouldn't be cost effective.
"The capital cost of these are pretty high. Of course, the energy source is free because it's wind, but the capital cost -- operation cost and maintenance cost -- is at least equivalent to what our other resources are," he said.
Bantam said right now, these two turbines produce less than 1 percent of electricity for LES. While Bantam said Pickens plan brings the private investment the industry needs, he still has some concerns.
"One of our biggest concerns is the intermittency of the wind and for ever wind turbine that you put in, there has to be a resource there to back it up," Bantam said.
But Pickens is a man on a mission who feels doing something is better than doing nothing.
Pickens said he talked to both senators John McCain and Barack Obama about his plan. He feels the message was received well by both presidential hopefuls.