T. Boone Pickens has announced plans to scale back the ambitious "Pickens Plan" and is suspending efforts to build the world's largest wind farm in the Panhandle of Texas.
Pickens cited several factors including the lack of transmission lines to the region and the drop in price of natural gas.
The Pickens reversal is the latest in a series of setbacks for the wind energy business in 2009. The global economic malaise has pressured the industry and consulting firm Emerging Energy Research predicts a decline of nearly 25 percent in the amount of new wind power installed in 2009 versus 2008.
