“Market conditions back in 1992 no longer exist. Big wind no longer needs the Production Tax Credit, and certainly cannot justify the extraordinary benefits received [3.5¢/kWh pre-tax]. Retaining the subsidy in light of lower installation costs and increased production serves only to further distort the market and bestow a bounty on big wind that far exceeds what 1992 lawmakers could ever have envisioned.”
The American Wind Energy Association’s latest market report touts an industrial- wind-energy construction pipeline of 29,634 megawatts, that, if all built, will bring the US installed capacity to nearly 115,000 MW. Installed capacity stands at 85,000 MW today.
You can bet that all (or most) of the new megawatts will meet the Obama/IRS requirements for full-tax credit eligibility. As we’ve written before, the Production Tax Credit ‘phase-out’ was little more than a 5-year extension of the PTC after Congress looked the other way while the IRS implemented its own definition of the phase-out.…
Continue Reading“If we can’t even use seismic to ‘see’ the vast majority of our underground prospects and resources, we cannot possibly estimate what is actually there. The one thing we can say is: Our current estimates of U.S. oil and gas resources are wrong, and are almost certainly much too low.”
“Producing ANWR’s oil riches represents hundreds of billions in state and federal royalties and corporate income taxes, over the life of the fields, plus billions more in lease sale revenues, plus thousands of direct and indirect jobs, in addition to numerous jobs created when all this money is reinvested in the USA.”
Paul Driessen is a indefatigable intellectual warrior for energy and climate realism. Propelled by a distain for crony environmentalism that promotes global poverty, he has produced weekly opinion-page editorials and written a full-scale book challenging climate alarmism and unmasking energy fantasies.…
Continue Reading“India’s chief economic adviser Arvind Subramanian has declared that India will fight against the ‘carbon imperialism’ being imposed on it. He affirmed the country’s plans to promote clean coal and suggested the development of a global coal alliance that can counter the renewable push by climate alarmists.”
India and the U.S. are about to deepen their economic ties—thanks to a government that supports free trade and conventional energy sources. A tradition continues: This year marks the 70th anniversary of the U.S.-India partnership—a partnership that began in 1947 when President Harry S. Truman welcomed Indian Prime Minister Jawaharlal Nehru.
Speaking at the Centre for Strategic and International Studies, Washington, U.S. Secretary of State Rex Tillerson told reporters that the U.S.-India partnership is set to get stronger in the next four years.…
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