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Comments

6 responses to “Pickens Puts the Brakes on Texas Water Pipeline”

  1. Dave Moore says:

    Hmmm. Didn’t you, uh, get the memo that all our blog posts today were supposed to be about, um, sports?

  2. columbiasooner says:

    This was a non-starter with the Water Districts in the area for several reasons.

    1. The pending Oklahoma Water Case. The Oklahoma AG’s response to why they shouldn’t sell water to Texas was all over the place. They know they have no legal ground to stand on and if the court case is decided with a judgement for Texas, the water will actually be able to be used free of charge.

    2. The price of the water that TB was asking was pretty fair. He was going to make his money in the construction of the pipeline and the transmission costs. The Water Districts here locally build there own pipelines and don’t have to pay transmission costs.

    3. The water in the Ogallala aquifer would not regenerate itself. I am not a scientist and don’t know the specifics of how long the water would last, but the politics of selling this to an an increasingly environmentally conscious audience was a no go.

    Oh and to make it a Sports comment, no matter how much money T. Boone sticks into the OSU program, they will never be much better than Tulsa in football.

  3. Grumpy says:

    Columbiasooner, I think the more practical reason is that his oil and gas bets have had a recent reversal of fortune -as measured by the performance of his funds. T.B. is the best, but if you live by volatility, you can be wounded from it too. I think one $10B wind project if quite enough brain damage to deal with if you’ve been creamed (which happens to the best of ’em of which he is) as I believe he has since July. The water project will be back is my guess…

  4. Dubious Brother says:

    It was a whole lot easier to talk up the water project when the area reservoirs were low and we were in the middle of the mother of all draughts as depicted on D Magazine cover a while back. Now that the lakes are full it’s not an easy sell.

  5. columbiasooner says:

    Grumpy while I agree with you on his other investments the water deal is a now or never deal for the Metroplex water districts. They are scrambling to complete their state mandated 30 year plans. The only two options that either TRWD or DWU will go for is Oklahoma or Marvin Nichols. T Booke’s best play for the water is to sell to dry Western Oklahoma using proceeds from the sale to Texas.

  6. El Rey says:

    columbiasooner,

    Spoke with the water folks at Region C yesterday. They just finished the water plan that goes to 2070.