TAG: Taxes

Wind Tax Credit Extended

Wind tax credits extended

As part of the midnight deal resolving some of the tax issues dubbed the “fiscal cliff,” Congress extended the wind energy production tax credit (PTC) for one year. More importantly, the bill’s tax extenders package granted the $0.022 per kilowatt-hour tax credit to the electricity wind projects generate over the first ten years of their production service to wind farms which are “under construction” by the end of 2013. The same debate will have to happen in a year, but the wind industry could definitely utilize the extra time. This is a critical change from the previous language in the PTC… read more

Shell Oil Keeps Digging

An oil rig

At a certain point, any decision which backfires stops being excusable. Stops being inexcusable and eventually becomes embarrassing. Shell Oil has managed to transcend even the embarrassing stage and is now existing in a pure lunacy stage where embarrassing cannot reach it. Further, embarrassment requires that one knows better from worse, right from wrong, and ultimately, it is difficult to discern if the executives of Shell Oil do know basic tenants of morality. On the last day of 2012, December 31st, the Shell oil rig “Kulluk” ran aground off the coast of Alaska off of Kodiak Island, prompting a 500-plus… read more

EU Carbon Emissions Bill

US airlines and EU regulations

The United States Senate unanimously passed a bill in September which will prevent EU carbon emission regulations for airlines from applying to U.S. flights. The European Union has been attempting to apply across-the-board carbon emissions so both domestic and foreign flights abide by the same rules, but this action from the U.S. Senate has escalated pressure on the EU to back down on enforcement. The Emissions Trading Scheme, which contains an overall goal to combat climate change, has been advocated since January by the European Commission, and it requires all airlines to participate. However, it is that requirement which has… read more

Toxic Goals

US tax credits

As the end of the year approaches, the time for the federal government to take action on the wind tax credit is dwindling. Of course, there are vested interests and special interest groups lobbying for each side—extending or letting the credits expire—and some groups are more powerful than others. Fossil fuel groups have been increasing their mobilization to defeat the credit, and their agendas and intentions are becoming less discreet. The American Energy Alliance, which has ties to far-right Koch Industries, stated this week it aims to make the wind tax credit a toxic issue for House Republicans; Benjamin Cole,… read more