Pickens, who says the US should rely on renewable energy resources like wind, rather than foreign oil imports, now says Mesa Power, a company he controls, will delay development of the project after Nymex oil and gas prices plummeted to some of their lowest levels in the past two years.
Despite President-elect Barak Obama’s pledge to increase the country’s use of renewable energies like wind power, the sector’s ability to raise financing for projects has been imperiled by tighter bank lending practices and volatility in equity markets.
Mesa
