Wednesday, September 19, 2007

Buffett, Gates and Pickens are coming to Texas to make money

Warren Buffett, Bill Gates and T. Boone Pickens, three men who know how to make money, are coming to Texas to make even more money by investing in power generation and transmission. They see a future of increasing electricity consumption in Texas, a business climate that is favorable to wind, and a deregulated wholesale electricity market that allows prices to float higher than the areas of the state (and nation) where rates are fixed. Their investments and the high prices both strike me as good things. The investments help push cleaner power plants (such as Pickens' large-scale wind farms) onto the grid, and the high prices help create customer demand for alternative electricity sources. Wind-win.

Here's the link with the story: Buffett, Gates, Pickens May Profit From Texas Power Shortage