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Posts from December 0

Dear Senator Warner (D-Va.): PTC a Loser All Around

By Glenn Schleede -- June 4, 2012

Dear Honorable Mark R. Warner:

I have great respect for your knowledge of information technology. But, with all due respect, sir, your May 24, 2012, response to my request that you oppose extension of the federal Production Tax Credit (PTC) shows a serious lack of understanding of wind energy, energy markets, and energy research & development.

The people of [your] Virginia are fortunate that the Menendez bill (S.2204) failed. Your support for that bill was ill-advised and contrary to the interests of Virginia’s taxpayers and energy users.

You appear not to understand that the wind PTC, a tax shelter, results in shifting tax burden from “wind farm” owners and developers to ordinary tax payers and/or results in more debt that will have to be paid by our children and grandchildren. Furthermore, “wind farms” are being built primarily because of the Production Tax Credit, NOT because of their true environmental, energy or economic benefits.