There are several other people on this thread that are giving similar (unsupported, oops) comments about T. Boone Pickens and his interest in water rights.
Honestly, I mostly admire his business sense. He saw/sees a bunch of related problems, and found a great way to make buckets of money off of providing a solution to the problems.
The problems that he is providing a solution to, in no particular order:
A) Several large Texas cities are going to have to limit growth very soon if they don't get another reliable source of water.
B) Automobiles produce a lot of CO2 as "pollution" in burning gasoline.
C) Coal-fired electricity plants make a "lot" of CO2 pollution also. Society needs more electricity, but people claim to want "green" power. It is possible to build a clean coal plant, but, to my knowledge, it has not been done, and is estimated as being about the same cost to construct as a nuclear plant, but has continuing fuel costs that nuclear pants don't have.
Pickens has found a great solution to these problems, from his point of view.
1) He has a LOT of natural gas that he owns rights to in the US, and he wants to switch cars over to natural gas from the US, instead of oil imported from countries that, frankly, the US should not be sending large amounts of money to. With high oil prices ($140/barrel I think?), natural gas is competitive price-wise.
2) He can, with good financing, build wind turbine power systems that produce reasonable power, though it has the difficulty of all wind systems that it is "surgy". It is not a consistent supply, even averaged across 300,000 acres. He needs high voltage transmission lines to move this power around. My understanding is that Texas already recognizes the need for more high voltage power transmission lines anyway. Pickens wants the right of way for those lines for his companies, rather than someone else's.
3) If he gets right of way for utility services, he can build water pipes alongside those transmission lines to ship water from distant aquifers to those soon-to-be water-starved Texas cities. Strikes me as efficient use of the right of way land.
And he'll make a lot of money providing this solution. Is it a bad solution? Frankly, there are a lot worse ideas. But I have to wonder if Pickens views it as an all-or-nothing affair, or if he is willing to do just pieces of it. My impression so far is that he wants to do the whole thing, and thinks that it is a matter of "the whole is greater than the sum of its parts". He may even be right.
But from what I've seen, he only advertised the "clean wind energy" part of things heavily. He somewhat advertised the "cars burning natural gas" but I never could decide if he was advertising that as cleaner, or simply as not foreign dependent energy. I never really saw him advertising the water rights piece, but my impression was that it was very important to him and his plan.
How's that for a better explanation of an unsupported conspiracy theory? :)