Search anytime by typing below

Thanks for joining the AEA efforts to help combat rising energy prices. We don’t want to bug you that often, so let us know what energy issues interest you, and we’ll keep your inbox happy.

*Please fill in all items

In the Pipeline: 4/26/13

April 26, 2013 by Leave a Comment

I guess we have to give the Virginia Economic Development Partnership some props for “[having] grave doubts about the business model”. It doesn’t sound like things are working too well in Mississippi. NYTimes (4/25/13) reports: “When Terry McAuliffe appeared with his good friend Bill Clinton at the ribbon-cutting for Mr. McAuliffe’s electric car company in July 2012, the campaign-style event, complete with “Born in the U.S.A.” blaring, was meant to supply the top line of his résumé as he positioned himself to run for governor of Virginia… But less than a year later, the company, GreenTech Automotive, has become a potential embarrassment as Mr. McAuliffe campaigns on the slogan “Putting Jobs First” and seeks to keep the spotlight on the conservative social views of his Republican opponent, Kenneth T. Cuccinelli II, the state attorney general.”

Well now . . . who could have seen this coming? The Hill (4/25/13) reports: “A Senate Finance Committee white paper on possible federal tax code changes for energy suggested establishing a carbon tax in place of most or all energy tax incentives… The paper offered the carbon tax with a range of other policy options to help chip away at a Congressional Budget Office-estimated $16 billion of foregone energy-related tax expenditures in fiscal 2013… The paper, released Thursday, came with the disclaimer that the policy suggestions “do not necessarily have the endorsement” of committee Chairman Max Baucus (D-Mont.) or ranking member Sen. Orrin Hatch (R-Utah).”

Were there any non-communists in the George Bush (41) Administration? The Hill (4/25/13) reports: “The wind industry’s main trade association has snagged Tom Kiernan, the longtime president of the National Parks Conservation Association, to be the energy group’s next CEO… The American Wind Energy Association (AWEA) is bringing him on board as the growing industry faces major political battles, including the looming expiration of a key tax credit that received a short-term extension in January’s fiscal cliff agreement.”

Here’s what the bad guys don’t seem to understand: the science can either be settled or it can be subject to discussion. By talking about the science all the time, they encourage the idea that it is a subject still open for discussion.  Which, of course, it is. But they really have no choice, because no one – and we mean no one – wants their solutions. The Guardian (4/25/13) reports: “The campaign group formed to support Barack Obama’s political agenda has launched an initiative to shame members of Congress who deny the science behind climate change… In an email to supporters on Thursday, Organizing for Action said it was time to call out members of Congress who deny the existence of climate change, saying they had blocked efforts to avoid its most catastrophic consequences.”

In one way or another, this probably bothers just about everyone in the country. The Globe and Mail (4/25/13) reports:  “The problem is that no politician gets elected by being an expert in infrastructure. And politicians, you can’t educate them. I’m not suggesting that they’re dumb. President Obama is smart, and so is Bill Clinton. But let’s remember that Bill Clinton didn’t do shit when he was president. He talks a good game now, but he didn’t lead. Al Gore could have led when he was vice-president. He didn’t lead… The people who did lead were George W. Bush and Dick Cheney, and they don’t get enough credit for it. They actually wrote a plan in 2001 that included solar and wind, and then in 2005 they passed the tax credit act that actually spurred wind and solar. Last year, the U.S. did 13,400 megawatts of wind, which is more than China did.”

The following think tank chiefs are opposed to a carbon tax. Please contact us at [email protected] if you wish to join our growing ranks.

Tom Pyle, American Energy Alliance / Institute for Energy Research
Myron Ebell, Freedom Action
Phil Kerpen, American Commitment
William O’Keefe, George C. Marshall Institute
Lawson Bader, Competitive Enterprise Institute
Andrew Quinlan, Center for Freedom and Prosperity
Tim Phillips, Americans for Prosperity
Joe Bast, Heartland Institute
David Ridenour, National Center for Public Policy Research
Michael Needham, Heritage Action for America
Tom Schatz, Citizens Against Government Waste
Grover Norquist, Americans for Tax Reform
Sabrina Schaeffer, Independent Women’s Forum
Barrett E. Kidner, Caesar Rodney Institute
George Landrith, Frontiers of Freedom
Thomas A. Schatz, Citizens Against Government Waste
Bill Wilson, Americans for Limited Government
Wayne Brough, FreedomWorks
Rich Collins, Positive Growth Alliance

Filed Under: In the Pipeline Tagged With: , , , , , , , , , , ,

In the Pipeline: 4/25/13

April 25, 2013 by Leave a Comment

No need to panic! The Obama Administration plays the market long. We’ll recoup these “investments” during His Majesty’s fourth term. Yahoo (4/24/13) reports: “The Obama administration was warned as early as 2010 that electric car maker Fisker Automotive Inc. was not meeting milestones set up for a half-billion dollar government loan, nearly a year before U.S. officials froze the financing after questions were raised about the company’s statements, newly released documents show.”

So are the green weenies pro-renewable or anti-carbon? It’d be interesting to see what their climate models look like when we start burning wood to stay alive during the winter. IER (4/24/13) reports: “Americans are led to believe that Europe is awash in wind and solar power, but the renewable most consumed is wood, says the Economist. According to the Economist, wood, the fuel of preindustrial societies, represents about half of all renewables consumed in the European Union in some form or another—sticks, pellets, sawdust. The European Union has a target of getting 20 percent of its energy from renewable resources by 2020. To get that much renewable energy, it cannot rely solely on wind and solar power. Unfortunately for its carbon reduction goals, the reliance on wood is not helping for it emits more carbon dioxide than coal.”

Let’s review. Oil from Canada, no. People from Mexico, yes. Politico(4/24/13) reports: “The backing from the nation’s oldest environmental group is a major shift that could help immigration reform supporters gain momentum as they try to push the measure through the Senate. It is another sign that some of the historical opponents to overhauling the country’s immigration laws, like evangelicals, are switching sides in this controversial debate… The powerful grass-roots group’s decision is expected to have an emphasis on keeping families together and frames the debate from the standpoint that undocumented workers are the most adversely affected by pollution, a source familiar with the Sierra Club plans confirmed.”

Don’t they realize that Mother Earth has already done the work for us? These scientists should have figured out by now that the Earth is just a massive solar panel that has been storing energy from the sun for millions of years. And we happen to live during the most peaceful and prosperous era in human history thanks to our ability to tap into this massive battery. NPR (4/10/13) reports: “It’s easy to feel dispirited about climate change because the challenge of dealing with it seems so overwhelming. But Miguel Modestino is actually excited about the challenge. He’s part of a large team hoping to make an artificial leaf — a device that would make motor fuel from sunlight and carbon dioxide rather than from fossil fuels.”

With the exception of John Broder, the New York Times runs an entire section on energy and says nothing of any interest. No mention of the trillion barrels of oil that the federal government won’t let its citizens recover. Nothing on the less than 3% of taxpayer land being available for production. Are we really sure they are the “paper of record”? NYTimes (4/24/13) reports: “After a flurry of environmental rule-making in Mr. Obama’s first term, including doubling vehicle fuel efficiency by 2025 and a stricter regime for policing drilling on public lands and waters, the engine of the regulatory state appears to have stalled… So what is Mr. Obama’s second-term energy and environmental agenda, and why is it proceeding so slowly?”

I’m glad someone other than the Chinese can still manage to build powerplants. Watts Up With That? (4/23/13) reports: “Germany’s dash for coal continues apace. Following on the opening of two new coal power stations in 2012, six more are due to open this year, with a combined capacity of 5800MW, enough to provide 7% of Germany’s electricity needs… Including the plants coming on stream this year, there are 12 coal fired stations due to open by 2020. Along with the two opened last year in Neurath and Boxberg, they will be capable of supplying 19% of the country’s power… In addition, 27 gas fired stations are due on line, which should contribute a further 17% of Germany’s total electricity generation. (Based on 2011 statistics, total generation was 575 TwH).”

Filed Under: In the Pipeline Tagged With: , , , , , , , , , , ,

In the Pipeline: 4/24/13

April 24, 2013 by Leave a Comment

Don’t let your children out of sight: “The more we learn about a gas-drilling practice called hydraulic fracturing—or ‘fracking’—the more we see it as a zenith of violence and disconnect…”Weekly Standard (4/29/13) reports: “Recognizing the significant environmental benefits of natural gas as a source of electric power, some prominent national environmental groups, such as the Environmental Defense Fund and NRDC, have mostly supported the increase in domestic gas production—and at least by implication the use of fracking to obtain the gas. For most in the environmental movement, however, opposition to fracking has become a virtually sacred cause…”

Fracked_

ANTI-FRACKING PROTESTERS IN NEW YORK, AUGUST 2012, NEWSCOM

Thank you, TransCanada, for politely calling EPA out on this one. While it doesn’t change the fact that this thing will never get built while this guy is in charge, this latest stunt is simply a bridge too far. The WH might be winning the battle, but they will surely lose the war. Politico (4/23/13) reports: “TransCanada said EPA’s concerns about the State Department’s environmental review of the Keystone XL pipeline were surprising given how closely the agency has been involved in the review… ‘The scope and tone of the EPA’s comments are somewhat surprising because EPA has been a cooperating agency throughout the four-plus year NEPA review of the project,” TransCanada spokesman Shawn Howard wrote in a response. He added: “There are no ‘new issues’ identified in their letter.’”

Leo DiCaprio also threw money away on Fisker, but that’s okay because he’s a private citizen. And if he was willing to invest, our argument is that much stronger that the government has no business in this business. WSJ (4/24/13) reports: “Barring a last-minute rescue, Fisker is poised to become another DeLorean Motor Co. or Tucker Corp., a symbol of the difficulties of creating entirely new car companies. Unlike those others, it also represents one of the most prominent failures of the government’s use of public funds to wean American industry from fossil fuels—and of how that government interest pushed Fisker to reach too far… Originally, Fisker wanted to start small. But, says investor David Anderson, the U.S. asked it to think big. ‘”We can’t loan you money to make a low volume car [in Finland],'” he said the U.S. argued. ‘”But if you wanted to bring forward in time your idea of the small car to be produced here in the U.S.,’ then, they’d say ‘OK,'” Mr. Anderson said.”

Was this planted by Jim Connaughton? Have we been Punk’d? Politico (4/23/13) reports: “As Bush begins to position himself for a presidential run in 2016, former aides and even some greens admit he could be positioned to achieve global warming’s equivalent of a ‘Nixon to China’ moment, especially if he had to work with a Democrat-led Congress… ‘I can see him coming around to some combination of a cap-and-trade program as the best alternative to regulate and at the same time not completely abandoning his principles on something by going to a place where we’re scientifically uncertain,’ said David Struhs, who served six years as the Bush-appointed head of the Florida Department of Environmental Protection.”

This is pretty good. I bet he is on the board of some really solid organizations. Weekly Standard (4/29/13) reports: “If you had told environmentalists on Election Day 2008 that four years later there’d be no successor treaty to the Kyoto Protocol, that a Democratic Congress would not have enacted any meaningful climate legislation, that domestic oil production would be soaring even after a catastrophic offshore oil spill, and that the environmental community would be having a lively internal debate about whether it should support reviving nuclear power, most might have marched into the ocean to drown themselves. Yet that’s the state of play four months into President Obama’s second term.”

We are going to go way out on a limb and say “no”. Energy & Commerce (4/23/13) reports: “‘This deal has been plagued with problems and the question remains: should Fisker have received the half billion dollar loan in the first place?’ House Energy and Commerce Committee Chairman Fred Upton (R-MI) and Oversight and Investigations Subcommittee Chairman Tim Murphy (R-PA) expressed concern today over news that the Department of Energy has seized $21 million from Fisker Automotive.”

Filed Under: In the Pipeline Tagged With: , , , , , , , , , ,

In the Pipeline: 4/23/13

April 23, 2013 by Leave a Comment

The EPA is completely unhinged. The Hill (4/22/13) reports: “The Environmental Protection Agency (EPA) objected Monday to the State Department’s draft review of the proposed Keystone XL oil sands pipeline route, saying it included “insufficient information” on environmental issues.”

The negative consequences of government mandates are very real. Rural Coloradans are about to get slapped in the face if the bozos in Denver have their way. Heartland (4/12/13) reports: “A 2011 joint report by the American Tradition Institute and Beacon Hill Institute found the mandate would increase Colorado’s electricity prices by an average of 3.75 cents per kilowatt-hour (kWh), a 40 percent rise. By 2015 this will lead to the loss of 6,000 to 29,000 jobs, according to the Beacon Hill Institute estimates… Rolling back the Colorado renewable portfolio standard, instead of increasing it, would help keep energy more affordable for consumers, attract more business investment, and increase job creation.”

This comes as a shock to precisely no one. SF Examiner (4/23/13) reports: “The Obama administration has seized $21 million from troubled automaker Fisker Automotive Inc. just weeks after the company laid off three-fourths of its workers amid continuing financial and production problems… Fisker had received $192 million in federal loans before a series of problems led U.S. officials to freeze the loan in 2011.”

Abundance. Prosperity. Manufacturing. The Speaker gets it. Maryam Brown is a star. Speaker Boehner (4/18/13) reports: “At his weekly press briefing today, Speaker Boehner discussed House Republicans’ plans to move forward on legislation that will unlock more American energy to help families and small businesses struggling with high gas prices and foster long-term economic growth and job creation.”

These people are either confused, dishonest, or both. If you want to turn, you also need to burn. But words like intermittent, expensive, grid-reliability, cycling costs, etc. don’t fit snugly into a slogan. The Buffalo News (4/17/13) reports: “The spinning windmills at the old Bethlehem Steel site in Hamburg and Lackawanna were a fitting backdrop as local environmentalists and community leaders made a plea to Albany to focus more on renewable energy… ‘Let’s Turn, Not Burn’ was the campaign slogan the groups used Tuesday to launch the Sierra Club’s Renewable Energy Week in Buffalo, Rochester, Binghamton and Auburn.”

If Mother Earth didn’t want us to use organic fuels like oil, natural gas, and coal, why does she provide such plentiful reserves? Forbes (4/22/13) reports: “All the vitriol thrown at these fossil fuels by the environmental community notwithstanding, it is a simple fact that our prosperous, modern, energy-hungry society was made possible by the existence of these fuels.  Without the discovery of and ability to produce fossil fuels, it is likely that mankind would still be mired in a Medieval form of existence, reliant on burning wood for heat, horses for transportation, and still living largely in the dark after nightfall.”

Filed Under: In the Pipeline Tagged With: , , , , , , , , , , , , ,

Rep. Scalise on the Carbon Tax

April 22, 2013 by Leave a Comment

Filed Under: Multimedia

Does Your Senator Support an Energy Tax?

April 22, 2013 by Leave a Comment

In dueling votes last month, U.S. senators took a stand either for or against a tax on carbon dioxide emissions. Although symbolic, the votes separated those who want to impose yet another tax on American consumers from those who understand that more taxes mean less prosperity.

By a vote of 53-46, the Senate expressed support for Sen. Roy Blunt’s amendment to ensure that any future carbon tax bill would require 60 votes to pass. On the other hand, the Senate overwhelmingly rejected Sen. Sheldon Whitehouse’s amendment to use any revenue from a carbon tax to reduce the deficit, a thinly veiled attempt to make a carbon tax more politically palatable. Thirteen Democrats joined every Republican to defeat the Whitehouse amendment, 41-58.

If enacted, a carbon tax would punish Americans for using affordable energy, hitting the poorest among us the hardest. A recent study found that such a tax would lead to lower wages and increased energy prices, the effects of which would ripple though the economy and hurt all Americans.

We tallied the votes and produced a map showing how your senators voted on the two amendments. Check out the map to see whether your senators voted to tax or defend affordable energy and prosperity.

To see the vote breakdown for Sen. Blunt’s amendment, click here.

To see the vote breakdown for Sen. Whitehouse’s amendment, click here.

Filed Under: News, Products and Power Tagged With: , , ,

In the Pipeline: 4/22/13

April 22, 2013 by Leave a Comment

Cheers to ending “misery and vice” Malthusianism. 

Earth_Day_Banner

Bjorn is right on some things, wrong on others, but mostly we couldn’t resist his headline: “What I’d like to see this Earth Day: More fracking”. The Globe (4/22/13) reports: “Year after year, we are treated to a message of environmental doom and gloom and admonitions on Earth Day. On the back of this sentiment in wealthy countries, governments have invested billions of dollars in inefficient, feel-good policies – such as subsidizing solar panels and electric cars. But really, there are far better ways to improve environmental prospects for humanity and our planet. This Earth Day, we need more fracking, more wealth, smarter investments, and fewer inefficient subsidies.”

It’s too good to be true! Oh right… it actually is too good to be true. LA Times (4/21/13) reports: “But Baucus and Camp are going to run into a big problem: One taxpayer’s “loophole” is another’s sacred birthright. The only deductions in the personal income tax code big enough to make a significant difference in revenue are the ones for home mortgage interest, charitable contributions and state and local taxes. And every previous attempt to trim or limit them has run into a buzz saw of opposition… So here’s another good bipartisan idea that the tax committees should consider: a new federal tax on emissions — more frequently called a carbon tax.”

This is a moderately well-written story that, incredibly enough, makes oil sands production sound vaguely effete. But we recommend you read it. National Review (4/22/13) reports: “My second flight of the day, this time on a noisy little turbo-prop puddle-jumper that sounds like a bomber from a World War II movie, gives me no reason to doubt his description. Unlike the large jet that took me from Newark, this aircraft is packed full of sturdy men wearing jeans, baseball caps, and steel-toed boots. There are no women — not a single pair of X chromosomes on board — and nobody speaks a word; they because they are discernibly weary of the journey, I because I am stunned into silence by what I can see outside. The 400 miles of Alberta we cross are just spectacular: Endless white fields sweep up toward the horizon for miles until they are broken by a line of snow-capped mountains. The sky is a dazzlingly clear blue, and the moon is visible. After 90 minutes or so of this, we land at a tiny airport and I drag my eyes from the window and look out into the snow. Regimentally, the men troop off. They have been here before.”

So, lots more natural gas and coal consumption is ticking up. All good. WSJ (4/18/13) reports: “These rapid U.S. declines may be short-lived, as natural-gas prices rise and utilities increase coal consumption. “Our coal-fired generation has certainly picked up” in recent months, says Nick Akins, chief executive of Ohio-based American Electric Power Co. AEP +0.93% Natural-gas prices have risen for eight straight weeks, recently closing at $4.40 per million British thermal units, more than twice its price a year ago.”

This is one of those “investments” that Obama loves. Hopefully His Majesty doesn’t manage his own finances. Jalopnik (4/19/13) reports: “Luxury hybrid automaker Fisker is working its way towards bankruptcy and details are starting to make clear just how faulty their business was, including a report that says the company spent $660,000 on each Fisker Karma… a loss of more than $0.6 million per car.”

Filed Under: In the Pipeline Tagged With: , , , , , , , ,

In the Pipeline: 4/17/13

April 17, 2013 by 1 Comment

My very strong suspicion is that half of everything they sell is made with petroleum products. And everything they sell is transported with petroleum products. I also suspect that they are really, really inane. Politico (4/15/13) reports: “APPAREL COMPANY PATAGONIA ORGANIZING AGAINST KEYSTONE: The gear, clothing and apparel company Patagonia is blasting the proposed Keystone XL pipeline in a new email to customers. ‘Tar sands oil in the Keystone XL pipeline will cross more than 1,000 bodies of water through three states, threatening freshwater with a devastating oil spill. We want to get a million comments against Keystone XL to the State Department by April 22. The clock is ticking,’ the company writes. On the lobbying side, Patagonia has not retained a lobbying firm since 2008.”

It’s got to be hard trying to keep building up the myth of scarcity when reality continues to knock it down. Denver Business Journal (4/15/13) reports: “The two biggest oil and gas companies working in Colorado’s Niobrara oil play could be drilling new wells nearly 20 years from now, based on the number of locations they’ve identified and the number of wells they plan to drill every year.”

You know, the tragic thing is that some Republicans are definitely that stupid. The good news is that most of them belonged to previous Administrations, or previous losing campaigns. And I used to have a lot more respect for Nobel laureates, before they started to give them out to people like Paul Krugman. Forbes (4/16/13) reports: “And You Thought Income Redistribution Was Just a Liberal Democrat Thing? Yeah, and the amount of the tax would then rise or fall on the basis of the subsequent increase or lessoning of ‘climate effects’… and ‘should be supplemented by a reasonable and sustained support for research and development in the energy area.’… Sadly, they aren’t the only prominent and usually brilliant conservatives who seem to have sampled the carbon tax Kool-Aid. Reagan economist Arthur Laffer has said he would support such a tax in exchange for a payroll or income tax reduction; Bush 43 economist Greg Mankiw supports a global tax; and Douglas Holtz-Eakin, a senior advisor to John McCain in 2008, wants a tax to provide the energy industry with regulatory ‘certainty.’”

Mike Brune is going to run the Sierra Club off the cliff. That may not be a bad thing. PoliticoPro (4/16/13) reports: “The Democratic Party could suffer if President Barack Obama approves the Keystone XL oil pipeline, Sierra Club Executive Director Michael Brune warned Tuesday… Brune, whose 1.4 million-member group was a major Obama supporter in last year’s election, said major Democratic donors are keeping a watchful eye on the president’s Keystone decision. An approval, he said, could affect fundraising and make activists less inclined to campaign for Democrats facing reelection in 2014.”

Evidently, this dude has not paid attention for the last 15 years or so. Science is the last thing this conversation is about. Examiner (4/15/13) reports: “Yesterday we reported on a new study by the U.S. Federal Drought Task Force that stated global warming was not to blame for the much-politicized 2012 drought in the Great Plains. As the New York Times notes:…‘By contradicting the established and widely accepted theory…that the drought was a palpable and detrimental sign of climate change, the [drought] report grabbed headlines in the American press and prompted sharp retorts from climate change scientists and climate activists.’”

Reports now suggest that the Abominable Snowman is actually responsible for “unsettling” the science. The Telegraph (4/16/13) reports: “The European Union’s climate change policy is on the brink of collapse today after MEPs torpedoed Europe’s flagship CO2 emissions trading scheme by voting against a measure to support the price of carbon permits.”

Abominable_Snowman_

Filed Under: In the Pipeline Tagged With: , , , , , , , ,

In the Pipeline: 4/16/13

April 16, 2013 by Leave a Comment

Let me explain how this works. Washington Gas agrees to buy wind power in an amount equal to the amount Union Station uses each year. They charge ratepayers more. The generators get a federal subsidy (about 1/4 of the total price) from taxpayers and get to generate power even when no one wants it. States in which the power is generated get to say they are meeting their portfolio mandates. Union Station gets the PR bump. Who pays for all this? You do, sucker. E&ENews (4/12/13) reports: “A central fixture in keeping Congress running is now relying 100 percent on wind energy… Union Station in Washington, D.C., has signed a three-year contract with Herndon, Va.-based Washington Gas Energy Services (WGES) to fulfill all its electricity needs from wind farms based around the region, the company announced this week.”

So when you rob Peter to pay Paul, we are at least going to alert Peter. AEA (4/15/13) reports: “American Energy Alliance President Thomas Pyle was joined today by eight other free market organizations in a joint letter to governors of 21 U.S. states that do not force their citizens to purchase unaffordable, intermittent electricity from renewable sources. The letter urges these governors to oppose any further extension of the wind Production Tax Credit (PTC) that unfairly forces their states to subsidize such mandates in other states. The coalition chose to send the letter on Tax Day, a day when Americans have a heightened awareness of the direct cost that bad government policy imposes on them and their families.”

Heck, we could’ve bought 30 more Solyndras in 2010 with all the money wasted on duplicative and overlapping energy programs! IER (4/15/2013) reports: “The Government Accountability Office (GAO) recently issued its third annual report exposing unnecessary duplication and overlapping programs throughout the federal government.[i] The report outlines more than $95 billion spent per year on duplicative programs and inefficient practices that is more than enough to offset the costs of sequestration. GAO identified 17 areas in which evidence of fragmentation, overlap, or duplication among federal programs or activities exists, covering a broad range of government missions and functions, including international affairs, science and the environment, training, defense, information technology, agriculture, and energy.”

Here we go again… Bloomberg (4/11/13) reports: “It starts with getting into the transportation sector. When I started the Pickens Plan in 2008, there were about 200,000 vehicles on natural gas in the world; now there’s about 16 million. That growth’s coming from everywhere but the U.S. Places like Iran and Argentina. China’s already got 40,000 trucks on LNG [liquefied natural gas], and they import the stuff. And here we are in the U.S., with more natural gas than any other country in the world, and we aren’t doing a thing about it. It’s just amazing to me that these dumb f-‍-‍-s in D.C. don’t see this opportunity and try to capitalize on it.”

Filed Under: In the Pipeline Tagged With: , , , , , , , ,

PYLE: More Tax Giveaways to Big Wind?

April 16, 2013 by Leave a Comment

WASHINGTON D.C. — AEA President Thomas Pyle released the following statement in response to today’s decision by the Internal Revenue Service to establish a loose definition for the wind Production Tax Credit’s qualifying language. According to the new IRS guidelines, wind projects can receive 10 years of taxpayer-funded subsidies by committing as little as 5 percent of the costs by Jan. 1, 2014.

“The Internal Revenue Service has twice in one month tilted the tax code to the benefit of wind energy, first increasing the taxpayer cost of the production tax credit by as much as $850 million and now by defining the new qualifying language to enable the wind industry to receive maximum benefit for negligible commitment. Only under the current green regime in Washington could a company spend 5 percent of capital costs to receive 10 years and $12 billion in cash from the federal government. Once again cronyism pays off, and industries with friends in high places reap the reward. The wind industry has no better friend than the current administration. We only wish hardworking taxpayers received the same treatment.”

Filed Under: Press Releases Tagged With: , , , , ,
Previous
Next