BY JOHN-LAURENT TRONCHE July 21, 2008
Fort Worth Business Press
Story at: http://www.fwbusinesspress.com/display.php?id=8027
The North Texas area is nationally known as a leader and example of natural gas production, but one company and one individual, both with oil business pasts, could help the Metroplex become known for more alternative energy resources, too.
Grapevine-based GreenHunter Energy Inc., whose CEO comes from oil and gas operator Magnum Hunter Resources Inc. (acquired by Cimarex Energy Inc. in 2005), and famed Texas oil man and Dallas resident T. Boone Pickens both have ramped up their support for alternative energy sources - that is, not oil.
The former is focusing on three main areas of investigation - biofuels, biomass power and wind energy - while Pickens is pushing exclusively for wind power and natural gas, according to his July 8-debuted Pickens Plan.
"Texas has always been a powerhouse in the United States in many ways," said Jack Zedlitz, director of corporate communications at GreenHunter Energy. "In the energy industry, Texas has been a focal point of oil and gas production and remains to be so.
"What a lot of other folks people don't know is Texas is also the largest wind power producer in the United States.
"I think this is another opportunity for Texas to continue to dominate, not only conventional power and fuel but also renewable energy."
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I have seen these ads, on TV, with Mr. Pickens in them and thought , now there is a guy that sees the future. I first heard about Mr. Pickens when I saw him in Inc. Magazine article. I read the article and was impressed that an "Oil" guy was doing something different than Oil, and making money. Now, that is what true entrepreneur, he changes with the times and still makes money. The article was very good, but did not detail out his "Pickens Plan" but did tell of how he is making money for the land owners around his Texas estate.
I am glad to see that out of adversity or pain, i.e. high oil prices comes innovation. Throughout history when America was faced with its greatest adversity came its greatest innovations and this time period is no different. Maybe on difference is that the people and industries that have held us captive to a "Real" solution to this Oil addition we have in this country. If they can make money at a solution then that solution will be put into use, not until then.
What do you think. Is this a turning point for Oil, is the "Green" movement going to really take hold? Is is going to stay around?
Pat Gage
www.10stepstomoney.com
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