The IRS flouted Congressional intent …and knowingly transformed the PTC phase-out into a 5-year PTC extension. Without reform, the PTC tax will grow to an additional $32+ billion in the next decade, not including the credits awarded projects already operating.
The multi-national, multi-billion-dollar wind industry and its group-think sycophants in the media blew a collective gasket this month following approval of the U.S. House tax bill (HR 1). It seems that House lawmakers shrugged off 25-years of subsidy lore by daring to rein in the open-ended, unlimited wind-PTC tax that now costs Americans over $5 billion annually. [1]
The House was right to take aim at the wind PTC, and the Senate should follow suit.
Ignoring Congressional Intent
The provision of HR 1 causing the biggest uproar is the “Special Rule for Determination of Beginning of Construction,” which clarifies when a project is considered to have started construction. …
Continue Reading“We don’t observe the boundary effects in our modern economy and haven’t throughout oil’s history because reserve estimates have grown over time and will continue to grow for the foreseeable future.”
Mineral resource alarmists, reflecting a fixity/depletionist view of the world, begin by arguing that “you must admit that there is a fixed amount of oil on this earth.” This is true in the purely physical sense that roughly 2 million barrels annually are created by the earth versus the 35 billion barrels consumed in a year.
Oil is a non-renewable resource, but that doesn’t mean our economic models should treat it as a drawdown of static inventory. A great example for the issue of fixity in resource economics is reservoir modelling for a singular oil well. In reservoir engineering, there are flow regime equations that model how the fluid moves from the formation into the wellbore.…
Continue ReadingThe Alliance for Wise Energy Decisions (AWED) is an informal coalition of individuals and organizations interested in improving national, state, and local energy and environmental policies. Our premise is that technical matters like these should be addressed by using Real Science (please consult WiseEnergy.org for more information).
A key element of AWED’s efforts is public education. Towards that end, every three weeks we put together a newsletter to balance what is found in the mainstream media about energy and the environment. We appreciate MasterResource for their assistance in publishing this information.
Some of the more important articles in this issue are:
Wind and Solar Power Advance, but Carbon Refuses to Retreat
Wind & Solar are Less Efficient Decarbonizers than CC Gas Turbines
Maine DEP Issues Draft Wind Energy Rules (two VERY good parts)
Grid-Scale Storage of Renewable Energy: The Impossible Dream
Tesla battery production releases as much CO2 as 8 years of gasoline driving
Report by head of German Wildlife Foundation: Truly Green?…
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