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Wind Subsidies Upon Mandates Upon Subsidies - Ad Infinitum, Ad Absurdum
Michigan Capitol Confidential ^ | 10/3/2012 | Jack McHugh

Posted on 10/05/2012 11:38:34 AM PDT by MichCapCon

Perhaps coincidentally, Proposal 3, a ballot measure to impose a mandate on Michigan utilities to obtain 25 percent of the electricity they sell from “renewable” sources — read wind turbines — will come before voters just seven weeks before another taxpayer wind subsidy is set to expire.

It’s a federal “production tax credit” that gives windmill operators a $22 tax break for every megawatt hour of juice they produce.

According to a recent Wall Street Journal op-ed, this is so generous that during hours of low demand wind producers actually pay grid operators to accept their power, just to get the tax break (which can be “carried forward” and used against future tax liabilities for up to 20 years).

But unless Congress votes to extend it, the credit goes “poof” on Jan. 1. That would shift even more of the cost of imposing a 25 percent wind mandate onto Michigan electricity customers. However, those customers lose either way: If the credit is extended, as U.S. taxpayers they (we) will be on the hook for a gift worth $12 billion to wind producers over the next 10 years.

It would make more sense for government and politicians to just exit this “green” corporate welfare racket and let markets sort these things out.


TOPICS: Business/Economy
KEYWORDS: greenscam; subsidies; wind; windenergy; windpower

1 posted on 10/05/2012 11:38:39 AM PDT by MichCapCon
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To: Springman; Sioux-san; 70th Division; JPG; PGalt; DuncanWaring; taildragger; epluribus_2; tatown; ...
Stupidity squared.

If anyone wants to be added to the Michigan Cap Con ping list, let me know.
2 posted on 10/05/2012 11:46:47 AM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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To: cripplecreek

It is time for the Wind Generators to put on their big boy pants and move out of their parents basement.


3 posted on 10/05/2012 12:15:04 PM PDT by hadaclueonce (you are paying 12% more for fuel because of Ethanol. Smile big Corn Lobby,)
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To: hadaclueonce

Start calling them big birds?


4 posted on 10/05/2012 12:17:25 PM PDT by cripplecreek (What does it profit a man if he gains the whole world but loses his soul?)
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