Library filed under Taxes & Subsidies

An analysis of Whole Foods’ January 9, 2006, “wind energy” Purchase

1_whole_foods_wind_energy_pseudo_environmentalism_thumb The natural foods grocery chain, Whole Foods, failed to do its homework when it agreed to buy “wind energy” and, thereby, launch the nation’s largest demonstration to date of “ green energy” pseudo-environmentalism! Three of the interesting conclusions from the analysis: • “109 huge (32+ story, 350+ foot), low electricity producing wind turbines will be needed to produce the 458,000,000 kWh of “wind generated” electricity that Whole Foods has (in theory) purchased.” • “$1 million spent for energy efficient light bulbs would avoid the use of 171,550,000 kWh of electricity over 5 years -- which is more than 3 times the 56,064,000 kWh of electricity that a $1,000,000 wind turbine might be able to produce over 20 years!” • “Like the leaders in other organizations that have undertaken similar pseudo-environmental actions, it appears that Whole Foods executives thought only about the favorable PR benefits they would enjoy, while failing to consider the adverse impacts of their action.” Editor's Note: According to the World Resources Institute and the U.S. Environmental Protection Agency the top 10 purchasers of 'wind energy' are: Whole Foods Market Inc. 458,000 megawatts (a year) Johnson & Johnson 295,000 MW DuPont & Co. 170,000 MW Starbucks Corp. 150,000 MW IBM Corp. 110,000 MW Safeway Inc. 78,000 MW HSBC 66,000 MW NatureWorks LLC 59,000 MW Advanced Micro Devices Inc. 52,500 MW WhiteWave Foods 49,500 MW
27 Jan 2006

Public subsidies spark criticism

WEST Devon and Torridge MP Geoffrey Cox has launched a probe into the amount of public money spent by the Government to subsidise companies who develop wind farms. Mr Cox's Parliamentary Questions will form part of the latest stage in his campaign in support of the thousands of local residents who object to the siting of two wind farms in his constituency.
19 Jan 2006

More wind Incentives

The bill is designed to give tax refunds and grants for using clean, efficient energy. One of its provisions would award grants of 0.85 cents for each kilowatt of electricity produced by a corporation from certain renewables, including wind utilities.
13 Jan 2006

Windy Publicity Stunt

One thing it doesn’t mean is that Whole Foods will now get its power from wind. Though press accounts have praised Whole Foods for “going green” with this move, it actually changes next to nothing.
13 Jan 2006

Making money out of thin air

The advantage of investing in a wind turbine [in India] is that 80 per cent of the project cost is considered accelerated depreciation given as a tax benefit for renewable energy during the first year. Editor's Note: Experts estimate that in the USA as much as two-thirds of a wind developer's return on investment is generated by the Production Tax Credit and depreciation allowances. Without these subsidies wind development would be a modest fraction of current levels.
12 Jan 2006

Whole Foods goes with the wind

That will make Whole Foods the only Fortune 500 company to purchase renewable energy credits — which subsidize the production of energy from renewable sources such as wind — to offset 100% of its electricity use, says the U.S. Environmental Protection Agency says.
9 Jan 2006
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