According to T. Boone Pickens, the solution to the energy crisis might be “in the air.” The legendary oilman told CNBC he’s investing $10 billion in a major wind-power deal. Should you trade the trend?
Earlier on CNBC, Pickens told Dylan Ratigan, "We’re working seriously on a wind deal that will be 4,000 megawatts… 4,000 megawatts is gonna cost us about $10 billion dollars, so I’m committing a lot of capital to it."
Pickens also said, “You’ve got an unbelievable wind corridor from Sweetwater, Texas to the Canadian border, And that could be – you could do it, a lot of that 150,000 megawatts in that corridor."
What’s the trade?
That corridor could be the Saudi Arabia of wind, says Pete Najarian. Someday wind could replace natural gas or coal as a means of generating power. Look at FPL Group , he counsels because they have 55 wind farms in 16 states.
I agree, says Tim Seymour. The wind story is under utilized and I think Pickens investment speaks well for all alternative energies.
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Trader disclosure: On Mar.25, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (YHOO), (INTC); Najarian Owns (AAPL), (CSCO), (ETFC), (MS), (MSFT), (NOK), (TSO), (XLF), (YHOO); Najarian Owns (COP) Calls, (BSC) Calls; Finerman Owns (GS); Finerman's Firm And Finerman Own (HD); Finerman's Firm Owns (MO), (MO-W),(MSFT), (PM-WI), (TSO), (VLO), (YHOO), (SUN), (AAPL); Finerman's Firm Is Short (IYR), (IJR), (MDY), (IWM), (SPY), (COF); Seymour Owns (AAPL), (BX), (CSCO), (DELL), (F), (INTC), (MER), (TMA), (TSO); Seygem Asset Management Owns (IBN), (CX) (TTM); Charles Schwab Is A Sponsor Of "Fast Money"; NBC Universal Is The Parent Company Of CNBC