On July 8th, 2008, hedge fund manager T. Boone Pickens announced his intention to develop a large wind farm in his home state of Texas, but a year later Pickens decided against doing so. Troubled credit markets, along with falling natural gas prices, have eliminated or stalled many renewable-energy projects. The 1973 OPEC oil embargo gave impetus to federal and state policies to spur development of indigenous energy sources, including non-hydro renewable ones.
There are now 850 electric utilities − nearly a quarter of all the utilities − offering green-pricing programs in the United States. These programs allow the utilities’ customers to voluntarily pay a premium rate for the green product − electricity generated from renewable-energy.
Rivers are the lifeblood of America. They travel through virtually every community. They are the source of recreation, commerce, ecological stability and services, and even spiritual renewal. For some of these very same reasons, rivers are also a source of tension, controversy, and conflict. The past 100 years have witnessed an unprecedented level of development on our nation’s rivers.
FERC conducts economic analysis for projects using the methodology required by the 1995 Mead decision, which prevents forecasting energy prices. While this made sense at the time, climate change and renewable energy sources make this approach outdated.