Will Pickens' plan reduce our dependence on foreign oil? Doubtful.

Even if the fleet of natural gas-powered vehicles is enlarged, the bulk of existing and new vehicles will continue to depend for the foreseeable future on gasoline. Americans currently own about 260 million vehicles, a total that grows by more than 3 million new vehicles every year. Turnover is low as about 60 percent are owned for more than seven years.

But all is not well in Wind Subsidy-land.

Since Congress didn't renew the wind subsidy as part of the 2007 energy bill, it will expire at the end of this year unless reauthorized.

Subsidies are perhaps more important to the wind industry that wind itself. Without them, wind can't compete against fossil fuel-generated power. As pointed out by the Atlanta Journal-Constitution (July 9), "In 1999, 2001 and 2003, when Congress temporarily killed the credits, the number of new turbines dropped dramatically."

It's little wonder that Pickens is waging a $58 million PR campaign to promote his plan. If it works, his short-term gain will be saving the tax credit and his wind farm investment. In the long-term, he stands to line his already overflowing pockets with hard-earned taxpayer dollars.

What will the rest of us get from this T. Boone-doggle? That's anybody's guess, but it probably won't be cheaper energy, energy independence or a cleaner environment.

http://www.pickensplan.com/