Tax Breaks & Subsidies and Energy Policy
Friday is the deadline for Delmarva Power to release details of agreements with three power companies to provide stable-priced electricity for the next 25 years. Homeowners, environmentalists and state officials are awaiting data to see if the wind farm will offer a competitive price, as well as whether the wind farm will be big enough to make a sizable contribution to the state's electricity supply. ...
Republicans are walking a fine line when it comes to wind energy in Colorado, and it's playing out in congressional races in the debate over a tax credit that impacts hundreds of jobs.
U.S. Senate Democrats, pushing to pass a broad energy bill next week, have developed a package that would take about $25 billion in tax breaks and other benefits from the oil industry and use the money for a vast expansion of renewable energy sources.
Rep. Mike Pompeo (R-Kan.), a second-term lawmaker who opposes energy credits, said he believes Congress "can get rid of a big swath" of energy subsidies.
"I've spent the first two years in Congress talking about these market distortions," Pompeo told The Hill. "This is the stuff that five years ago wasn't even talked about. I think we've made a lot of progress in getting awareness."
Senate Democrats' efforts to impose $29 billion in taxes on oil companies as part of larger energy reform bill collapsed Thursday when they failed to break a Republican-led filibuster.
Hours later a mandate that utilities get 15% of their energy from renewable resources by 2020, apparently also was out of the bill.
Jude McCartin, spokeswoman for Sen. Jeff Bingaman, D-N.M., the provision's lead sponsor, said time to add the renewables provision had run out now that the overall bill was headed towards a final vote, expected late Friday.
The provision had drawn opposition from Republicans who claimed it was tilted toward wind power and would hurt Southern states not suited for it.
The Senate did approve a compromise deal on raising fuel economy standards late Thursday.
WASHINGTON — House Democrats are targeting billions of dollars in oil company tax breaks for quick repeal next year. A broader energy proposal that would boost alternative energy sources and conservation is expected to be put off until later.
Hot-button issues such as a tax on the oil industry's windfall profits or sharp increases in automobile fuel economy probably will not gain much ground given the narrow Democratic majorities in the House and Senate.
Incoming House Speaker Nancy Pelosi, in an outline of priorities over the first 100 hours of the next Congress in January, promises to begin a move toward greater energy independence "by rolling back the multibillion dollar subsidies for Big Oil."
The European Union should adopt binding energy savings targets and look into launching a new trading scheme to encourage businesses to use renewable energy sources, Denmark’s prime minister said on Friday.
Anders Fogh Rasmussen told Reuters the 25-nation bloc, struggling to reduce rising dependency on imported gas and oil, should follow Denmark’s example as it develops a common energy policy at a time of high fuel prices and growing global demand.
Fresh off their successful push to extend a key tax break in the PTC, wind industry lobbyists are beginning to prepare for the tax reform fight. But the push for some longer-term certainty will proceed without at least one key ally in Congress.
Rep. Dave Reichert (R-Wash.) says the one-year extension and expansion of the PTC that were included in this month's "fiscal cliff" legislation should be sufficient for the industry.
A massive bill by the House speaker to promote conservation and renewable energy is stirring up a whirlwind of opposition among consumer groups, environmentalists and utilities.
While some critics say the 360-page proposal does not go far enough in creating incentives, others say it would undermine conservation and clean energy efforts already under way in Massachusetts.
David Guarino, a spokesman for Speaker Salvatore F. DiMasi, D-Boston, said yesterday that Mr. DiMasi expects "robust debate" over the legislation, and it remains his top priority.
Massachusetts House Speaker Salvatore F. DiMasi will propose today the overhauling of key pieces of the state’s energy policy to reduce electricity demand and push communities to develop more energy-efficient and green projects, such as wind turbines.
Thousands of us are signing up to plans from energy suppliers that promise to provide our energy from renewable sources.
But while green tariffs might ease our consciences, do they actually make any difference to the environment?
Under green tariffs, energy suppliers promise to match your electricity use by putting the same amount of energy from renewable sources – mostly wind farms – back into the national grid.
But environmental groups are not certain of the schemes’ green credentials. Friends of the Earth used to produce a league table of green tariffs, ranking them according to their benefit to the environment.
However, it has now ceased the exercise because it says it has become impossible to accurately gauge how much good the schemes do.
A clean-energy initiative on the November ballot promises to reduce the state’s dependence on fossil fuels, combat global warming and cut the cost of electricity.
Backers of the measure, Initiative 937, also say new wind farms would generate millions in tax dollars for struggling rural communities.
Can the initiative deliver on all those promises? It’s unclear.
Madison, Wis. - Gov. Jim Doyle today proposed a joint public-private initiative to allocate $80 million in state funds for the development of renewable energy programs in Wisconsin.
Doyle said the money - which includes tax credits, low-interest loans, and grants that would come from business development fund allotments and the sale of state bonds - would leverage an additional $370 million in private investment to marshal economic resources around biofuels.
Ontario’s energy minister pledged yesterday to do what he can to solve the issues that led an Alberta company to shelve a $300-million Huron County wind turbine project.
“We were obviously disappointed to hear it is being shelved,” said Energy Minister Dwight Duncan.
Citing uncertainties about government approvals, Edmonton-based Epcor Utilities Inc., announced last week it would indefinitely delay plans for Kingsbridge II, a project that would have seen construction of 69 wind turbines in Ashfield-Colborne-Wawanosh Township.