Vestas in Congress, hat in hand
The Danish wind power equipment manufacturer, with its U.S. headquarters in Portland, yesterday laid out its case that the federal production tax credit (PTC) for wind energy must be extended immediately. The credit is scheduled to expire at the end of 2012, but they say that's affecting orders that aren't being placed now:
Extending the PTC now will allow wind power plant developers to place orders for 2013. Currently, few, if any, 2013 orders are being placed. This impacts not only the manufacturer but the supply chain as well. We order component parts based on the market we anticipate, often before orders are placed. Suppliers require significant lead time to ensure they have produced the parts necessary to meet our customers' needs. When orders slow down due to a looming expiration of the PTC, our suppliers' businesses suffer....For this industry's continued success, it is critical that Congress immediately extend the PTC. The impact of allowing the PTC to expire — or extending it at the last hour — is much greater than in previous years. As the Navigant study shows, 37,000 American jobs could be lost. This would be a devastating blow to the nation's fragile economy.
"If you don't extend our tax credits, we'll kill these jobs!" It's a familiar refrain these days, on all levels of government.
| Posted at 8:33 AM | Permalink |
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Comments (7)
"This impacts not only the manufacturer but the supply chain as well."
Not to mention Gerding-Edlen.
"few, if any, 2013 orders are being placed."
Dear god, they've got subsidies on top of subsidies for alternative energy - Maybe people just don't see the need for this or are waiting for something better.
Posted by Steve | December 15, 2011 8:58 AM
Regulators told Bonneville they have to pay wind farms for producing nothing when there is excess power.
http://www.oregonlive.com/business/index.ssf/2011/12/regulators_tell_bonneville_to.html
All this multi-layered insanity is a result of electing the Sam Adams,David Wu, Rex Burkholder, Earl Bluemenauer type lunatics at every level.
I know there are plenty of sane rank and file Democrats. I know many. Many visit here. High numbers voted with the 70% in Clackamas County Urban Renewal vote.
But unfortuantely the most defectively Blue Democrats seem to be the ones who get elected. Why is that? Is this what we have to accept to keep the Democrats in control?
If Oregon had more Marc Abrams, Josh Marquis types the state would also be a lot less corrupt but likely still slighlty leaning left. Would that be a bad thing?
The only way to get well managed good government without the extremities and crippling politicization of every policy is to get rid of the defects.
Posted by Ben | December 15, 2011 9:35 AM
The real beneficiaries of these large subsidies are the rich who can use them to reduce their tax liability. The 1% need still more help from the 99%.
Posted by Don | December 15, 2011 9:49 AM
Please tell us that there's a propeller on top of that hat.
Posted by Mojo | December 15, 2011 12:17 PM
I don't see the Occupy Whatever folks occupying Vestas' offices in Portland for taking taxes that should be used to maintain parks and schools and giving that money away to a huge Danish conglomerate - funnelling American dollars to Europe and letting some rich CEOs live the good life 10,000 miles away, while they play hardball with American lives.
Posted by Erik H. | December 15, 2011 12:23 PM
Ben: Josh Marquis? You gotta be kidding.
Posted by Mojo | December 15, 2011 12:31 PM
"If you don't extend our tax credits, we'll kill these jobs!" It's a familiar refrain these days, on all levels of government.
Barring something unforeseen, we will have high unemployment moving forward and it will churn through a lot of industries.
No matter what your political ideology, short term employment arguments do not justify making high risk bets with borrowed dollars.
Every progressive who allows this line of thinking to go unchallenged will only encourage the big-government-conservatives to rely on it later.
After all, military employs a lot of people.
Anyone want to commission a poll asking whether US voters would rather see more unemployed veterans or unemployed green energy technicians?
Posted by PanchoPDX | December 15, 2011 4:20 PM