Busting the “Clean Energy Bank” (another problem with Waxman-Markey)

By Jerry Taylor -- June 8, 2009 7 Comments

Buried within the controversial Waxman-Markey “cap and trade” bill to reduce greenhouse gas emissions (formally known as HR 2454, “The American Clean Energy and Security Act”) – a bill that may well reach the House floor for a vote before the July 4th recess – is another fairly arresting proposal: the creation of a federal “clean energy bank.” The idea (found in subtitle J, addressing “Nuclear and Advanced Technologies”) is to use federal tax dollars to provide subsidies (in particular, direct loans, letters of credit, loan guarantees, and insurance products or other credit enhancements or debt instruments) to private business in order to “promote access to affordable financing for accelerated and widespread deployment” of clean energy, energy infrastructure, energy efficiency, and manufacturing technologies.

 The Senate is considering similar legislation in the form of S 949, “The 21st Century Energy Technology and Deployment Act,” but it would go further and also allow indirect subsidies as well, including securitization, indirect credit support, the acquisition or selling of debt or interest in the debt; and secondary market support through lending on the security of debt. …

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Stimulus IV: Last Chance for the Green New Deal?

By -- April 2, 2020 3 Comments

Don’t forget that just before the World was upended by coronavirus, we had another deep-decarbonization electrification bill: the 555-page American Energy Innovation Act (AEIA). 

Since “clean energy” unfairly discriminates against the leading (and clean) alternatives to electricity, this is contrary to the best interests of free markets and providing affordable energy for consumers.

Yes; another “stimulus” bill is possible and perhaps even likely. Expect Nancy Pelosi’s “Green New Deal” to be part of this effort given that the Senate and the President said NO to subsidies for solar panels and wind turbines in the CARES Act

Numerous special interests didn’t get their piece of the pie and were promised another shot in order to move the CARES Act out of the Senate.  It’s all politics, not consumer economics, for the pack of lobbyists in an election year, trading campaign contributions for legislative favors.…

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The New Renewables Narrative: Buyer Beware

By Marita Noon -- October 29, 2013 No Comments

“Georgia … Texas … Arizona…. One story is an anomaly; two, a coincidence; three, a trend. When a so-called conservative Republican talks green energy and sounds like he or she is hitting the right notes, be careful. It’s probably the wrong song.”

Creating jobs…. enlarging the tax base… access to markets … energy choices for consumers…. monopoly busting … resource conservation….

The words and terms are being used by two government dependent renewable energy industries to sucker citizens and legislators to retain, if not enlarge, their taxpayer subsidies and ratepayer cross-subsidies in the current energy debate.

Make no mistake: This is an organized attempt to hoodwink  Republicans, conservatives, limited-government and free-market supporters, and even fiscally minded Democrats. Yet the means and ends of the deceivers are 180 degrees from what ordinary fiscally prudent citizens would support if they understood the gloss and what was underneath the hood.

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