Tax credit extension boosts wind power industry

  • Article by: BLOOMBERG NEWS
  • Updated: January 2, 2013 - 9:12 PM

As part of the fiscal cliff deal, producers also regained tax credits that subsidize biodiesel and some ethanol.

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acctsah2Jan. 3, 13 7:45 AM

That's always a good sign - the only way your business can stay afloat is to be funded by taxpayers.

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johnmiJan. 3, 13 8:45 AM

All energy is subsidized...maybe you should delve into it a bit more deeper. For example; if Americans were paying the real cost of gasoline, at the pump, we'd be paying quite a bit higher than the 3 bucks/gallon we are currently paying...(no complaints here) not to mention subsidies and tax breaks given to traditional electric energy business models. It's simply how energy is done in America. I don't understand why republicans (mainly) would be against the ptc extension, other than it conflicts with bigger businesses, e.g. coal, gas, nuclear, etc. Wind and solar lowers taxes by those who invest into these types of projects (it's tax based not a handout imo), creates jobs and provides clean energy. We should be encouraging additional business investment strategies for the clean energy industry to get a broader investment from everyone that has interest. Clean energy mitigates rate hikes due to new transmission build outs (if done in a distributed manner..and in Minnesota), to include EPA rules that are trying to clean up coal emissions. I think it's a good thing. In Minnesota wind is cheaper without the ptc than new fired coal. It's a good deal for Minnesotans and the legislature should take note and get as much done as possible over the next few months...respective of the Sherco coal fired facilities which may be retired.

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garagewineJan. 3, 13 9:05 AM

@johnmi A tax credit is a subsidy. There's no mistaking that.

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kleindropperJan. 3, 13 9:12 AM

Oh good, throwing more money down the drain. And we have so much available to throw away. $16.4 trillion debt and counting. That's only $55,000 for every man woman and child in the country! And how about the unfunded liabilities in SS and Medicare? That's another $107 trillion or $356,000 for every man woman and child in the country. How many people are in your family?

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marcymmbJan. 3, 1310:45 AM

So who benefits from wind power that pickens guy from Texas, he's making millions from it. How about subsidizing movie production, yes that also got an extension, by the way that's hollywood. How about amtrack_trains oh yes thats warren buffet, and you people talk about the rich should pay more, well here'e your rich this is disgusting.

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karen2418Jan. 3, 13 3:42 PM

I drove up from Louisville to Rochester back in September and was stunned to see two things: mile upon mile of dead corn and motionless windmills. Farmers need Federal crop insurance assistance to stabilize the price of food, but I wonder if, one hundred years from now, those windmills will appear in movies as archetypical examples of despair and waste rather than Roman ruins. After all, Rome practiced Keynesian economics when it built roads, aqueducts, and arenas. Government debt didn't help them and it won't help us.

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