“The Schumer-Manchin bill provides that after 2024 the traditional PTC and ITC programs expire, but the benefits live on through the new “Clean Electricity” tax credit program.”

“Based on published project footprints of recently sited wind projects in Wyoming, Oklahoma, New Mexico, and Colorado, new wind turbines will spread across 30 million acres (50,000 sq. mi.) by 2032.”

The Schumer-Manchin bill passed by the US Senate this weekend and heading to the House erases any doubt whether Congress is serious about lowering inflation, addressing energy costs, or protecting the environment.

Ironically dubbed the Inflation Reduction Act of 2022, Schumer-Manchin will do nothing to reduce inflation. But what it will do is far worse. Schumer-Manchin will unleash the largest industrialization of U.S. open lands not seen since the damming of our western rivers.…

“Soon enough, citizens and voters will wise up to the false promises and cronyism of political energy. MasterResource will be an intellectual resource to help win the day for the master resource and the human ingenuity behind it.”

There is life outside of energy research and related public policy. I discovered some of it during the last ten days with limited responsibilities on the avocation/vocation front. But it is time to re-engage–and take time to look back and forward.

A Look Back

MasterResource, “a free market energy blog,” just turned twelve years old. In our inaugural post (December 26, 2008), I wrote:

We are just getting started here, but some of us veterans of the energy debate from a private property, free-market perspective have teamed together to offer our thoughts on late breaking energy items.

“After a dozen extensions and nearly three decades on the books, it’s time to end the Production Tax Credit….”

Thirteen extensions of a 1992 tax credit for a supposedly infant industry in need of start-up aid. A subsidy has risen with inflation and become more lucrative with new technological design.

Little wonder that wind power can be “predatory” by under-pricing conventional electrical generation that does not get the subsidy. As in negative, zero, or small-positive prices. Little wonder that firm, dependable power sources are leaving the market–or require a corrective subsidy to continue to compete (a second wrong).

It’s a racket. And so 41 free market groups have aligned to urge the U.S. Senate to end the racket. The full letter, organized by the American Energy Alliance, follows.…

Paul Gaynor, CEO of Longroad Energy, a utility-scale wind and solar developer, recently said, “Pre-pandemic, there were great dreams and aspirations for a record-setting year.” Indeed, the renewable industry was well on its way this year to a new record: the $9 billion subsidy mark. Mr. Gaynor’s dreams and those of the industry are a burden to the rest of us.

Without the subsidies, it is almost certain [that wind and solar] would be only a niche industry, supplying perhaps a percent or two of our power, rather than the 26% it is currently supplying in Texas.

For the first time last year, electricity produced from wind in Texas almost equaled the amount produced from coal. This year, it appears as if wind is going to blow coal away.

Last year, each source produced about 20% of the electricity used on the grid.…