Articles filed under Impact on Economy from USA

The economic cost of climate change legislation

The bill would require doubling in three years of the share of electric utility output that comes from renewable sources-wind, solar, geothermal, biomass-from three percent now to six percent in 2012. In a further leap of central-planning arrogance, the bill would raise that standard in stages to 25 percent in 2025. Sounds good? Maybe, but the technology to do it doesn't exist.
23 Apr 2009

"Robin Hood" could take school money

Meanwhile, lawmakers are trying to pass House Bill 1273 and the bill says that money given by wind energy farms to wealthy districts need to be part of "Robin Hood." "Robin Hood" will then distribute the money through out other districts. Now some school districts in the Big Country can be heavily affected if House Bill 1273 passes.
23 Apr 2009

Stimulus helps, but many renewable energy projects still can't find funding

Blumenfeld isn't the only one feeling the pinch of the recession's credit crunch. Despite the Obama administration's spotlight on renewables and $54 billion in clean energy incentives packaged into the American Recovery and Reinvestment Act, startup renewable energy companies are struggling to get new projects off the ground. Jeff Dalebroux, a Chicago-based finance attorney who works with infrastructure and project finance at Dykema Gosset PLLC, said the problem stems from a host of issues.
22 Apr 2009

"Green" business not always job friendly

"Green jobs" are touted as the universal cure-all, saving the environment and the economy at the same time. Congress included more than $80 billion in spending and tax incentives to promote them in the recent stimulus bill. Van Jones, President Barack Obama's "green" jobs adviser, even recently called for using ex-convicts to build solar cells ...Unfortunately, claims about the wonders of green jobs are all too often constructed on myths about economics, forecasting, and technology.
21 Apr 2009

Utility warns carbon emissions regulation could triple electric bills

[Dalton Utilities president and CEO Don Cope] said he had listened last week to a presentation by the Edison Electric Institute, an organization that all of the large, shareholder-owned utilities belong to, on the possibility of legislation capping carbon emissions produced by fossil fuels such as coal and oil. "Their estimate is that it will cost the average household in the United States between $3,000 and $6,000 per year," he said.
21 Apr 2009

Utility warns carbon emissions regulation could triple electric bills

[Dalton Utilities president and CEO Don Cope] said he had listened last week to a presentation by the Edison Electric Institute, an organization that all of the large, shareholder-owned utilities belong to, on the possibility of legislation capping carbon emissions produced by fossil fuels such as coal and oil. "Their estimate is that it will cost the average household in the United States between $3,000 and $6,000 per year," he said.
21 Apr 2009

Consumers start feeling higher costs of clean fuel

Clean energy has a dirty secret. It isn't cheap. Consumers already are starting to feel at least a modest pinch in their electric bills. The impact is expected to grow in the next few years as utilities accelerate their investments to meet state quotas requiring a portion of clean energy in their generation mix.
19 Apr 2009

House whips up new wind-tax plan

Austin Democrats are hammering out a compromise with party leadership that would boost wind tax revenue for townships at the expense of school districts. Reps. Robin Brown and Jeanne Poppe have been fighting to restore a wind tax benefit for schools set to expire on July 1. Last year, Minnesota schools received $146,000 from the wind energy production tax.
17 Apr 2009

Are green jobs an economic black hole?

President Obama in a speech at the Southern California Edison Electric Vehicle Technical Center last month favorably cited Spain as an example of how to boost an economy by creating green jobs. ...A new study by researchers at Spain's King Juan Carlos University suggests that the president may want to rethink Spain as a model for stimulating the economy with green jobs.
7 Apr 2009

Controversy erupts over districts not sharing windfall from wind farms

Property values are soaring in this West Texas community, and the reason is obvious. Looming on the northern horizon, hundreds of new wind turbines dot the once-barren hills. Ordinarily, much of the tax dollars generated by the turbines would go to the state's "Robin Hood" school finance plan, which requires property-rich districts to share their wealth with those less fortunate. But that won't happen in Sterling City, at least not if school officials have their way.
3 Apr 2009

Cost works against alternative and renewable energy sources in time of recession

Windmills and solar panel arrays have become symbols of America's growing interest in alternative energy. Yet as Congress begins debating new rules to restrict carbon dioxide emissions and promote electricity produced from renewable sources, an underlying question is how much more Americans will be willing to pay to harness the wind and the sun.
28 Mar 2009

Job losses from Obama green stimulus foreseen in Spanish study

Subsidizing renewable energy in the U.S. may destroy two jobs for every one created if Spain's experience with windmills and solar farms is any guide. For every new position that depends on energy price supports, at least 2.2 jobs in other industries will disappear, according to a study from King Juan Carlos University in Madrid. U.S. President Barack Obama's 2010 budget proposal contains about $20 billion in tax incentives for clean-energy programs.
27 Mar 2009

Legislature included on wind farm panel

The Cattaraugus County Legislature will be represented on a panel that will work with town and school delegates to set up a tax-exemption policy for the Cattaraugus County Industrial Development Agency’s wind farm projects. A blanket state tax exemption for wind farms and other alternative energy systems was lifted in the county by the Legislature in 2008 following a lengthy debate.
27 Feb 2009

Wind park hedges its finances; Noble asks to proceed despite money issue

Executives from Noble Environmental Power said that they can raise the $275 million the project costs but that they have been hampered by tumultuous financial markets, according to testimony filed Tuesday. The company asked the state Site Evaluation Committee to allow it to proceed on the condition it proves its financing plan before construction begins. ...An investment banker testifying for the state Tuesday wrote that he did not believe Granite Reliable nor Noble have a plan to finance the park. The company has not shown how it will find lenders and investors.
26 Feb 2009

Don't count on 'Countless' green jobs; The evidence shows alternative energy is expensive

In signing the American Recovery and Reinvestment Act this week in Denver, President Barack Obama claimed that the law -- which among other things will ramp up funding for renewable energy development -- is "laying the groundwork for new green energy economies that can create countless well-paying jobs." ...If the green-jobs claim sounds too good to be true, that's because it is.
20 Feb 2009

For future energy, $220 million

Minnesota's wind-energy industry is about to get a turbo-charged boost from the $789 billion economic stimulus package ...An extension of the production tax credit to three years plus the addition of an investment tax credit will inject new life and urgency into projects that were starved for financing, tax experts said. And the Energy Office in the Minnesota Department of Commerce estimated the bill could inject about $220 million into Minnesota.
17 Feb 2009

Will the stimulus work? It will help, but don't expect quick turnaround for jobs, economy

No, the big stimulus plan won't "save or create 3.5 million jobs," as the president and congressional Democrats claim - at least not this year. The economy will remain feeble through 2009, analysts warn, and businesses will keep shedding jobs ...The stimulus agreement, heading for final votes in the next day or so, goes to the heart of President Barack Obama's strategy to revive the economy and will go far in shaping how Americans view his economic leadership. What it won't do is quickly snap the country out of the painful recession, now in its second year.
12 Feb 2009

http://www.windaction.org/posts?location=USA&p=24&topic=Impact+on+Economy&type=Article
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