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Author Topic: Corporate Welfare For Wind Makes No Sense Back to Topics
flyboyUT

Champion Author
Utah

Posts:28,816
Points:1,599,480
Joined:Aug 2008
Message Posted: Mar 7, 2014 10:54:06 PM

Wyden's spilled much ink decrying corporate handouts and tax breaks. Congress just needs to apply that logic evenly, and throw this blatant and unfair corporate welfare to the wind.
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>>>The Senate Finance Committee's new chairman, Sen. Ron Wyden, has indicated his first order of business will be to extend tax breaks that expired at the end of 2013.

One break that should be excluded is the Wind Production Tax Credit (PTC) — the main handout for the wind industry.

Seemingly innocuous, the PTC gives wind companies $23 in a subsidy for each megawatt-hour of electricity they produce. But this money adds up quickly; it costs taxpayers billions of dollars every year.

Rarely does an industry enjoy such disproportionate favoritism. Even though the wind industry produces only 3.5% of the country's electricity, it receives 42% of the federal government's electrical financial support.

Combined with other targeted incentives, the federal government gives wind producers $56.29 per megawatt-hour, according to the Energy Information Administration. Natural gas, oil and coal power, by comparison, only get 64 cents, while nuclear power receives $3.14.

In addition to all of this support at the federal level, wind power gets a lot of support at the state level. Currently, 30 state governments enforce purchase mandates called Renewable Portfolio Standards that require utilities to buy a certain percentage of their electricity from green sources.

The PTC, when combined with such standards, gives wind producers a gross advantage over other energy producers. It's so generous that it exceeds half of electricity's wholesale price in many areas of the country.

This subsidy is so high that it leads many wind farms to sell their electricity at a substantial loss, just to collect the credit. These companies are literally paying utilities to buy their product — and yet they're still turning a profit because the taxpayer foots the bill on the front end.<<<

Now lets see if the liberal types will decry this corporate welfare
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oilpan4
Champion Author Virginia

Posts:13,820
Points:334,890
Joined:Jul 2006
Message Posted: Mar 10, 2014 1:09:06 AM

And thats why I am getting degrees in wind/sun power, real fossil fuel power generation (non-nuclear), and industrial tech.
My guess is wind/solar is most likely to go belly up.
Heck if liberals get their way all 3 of those would be a bust, have to go back to school to get a degree in cooking with insects or weaving things out of grass.
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I75at7AM
Champion Author Dayton

Posts:74,468
Points:3,123,325
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Message Posted: Mar 9, 2014 8:37:45 PM

He does what he does, not what he says.

They (Congress, the gutless nutless wonders) can cut off the wind subsidies and also the ethanol subsidies and the crop price supports and acreage set-asides. They can also stop subsidizing every student who wants to go to college with grants and loans, as this artificial increase in demand for higher education has led to much-higher tuition and costs for all college students.
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e_jeepin
Champion Author Michigan

Posts:4,824
Points:141,170
Joined:May 2007
Message Posted: Mar 9, 2014 8:11:45 PM

This is what's funny -- everyone can agree on less (or no) corporate welfare and Obama ran on it (and won).

Then he does just the opposite -- implements HIS corporate welfare to solar unicorns and university studies on things that will never matter. Its donor welfare.

Similar to pulling the rug from under disabled Veterans welfare and dumping it into voter welfare.

Follow the money, its pretty easy to spot



[Edited by: e_jeepin at 3/9/2014 8:13:46 PM EST]
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AnotherOne
Champion Author Twin Cities

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Points:790,405
Joined:Aug 2010
Message Posted: Mar 7, 2014 10:55:51 PM



"Corporate Welfare For Wind Makes No Sense"

ANOTHER boondoggle program that liberals will happily support since they produce SO much "WIND" ... from BOTH ends.

;-)

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