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Wind energy tax credit expires Dec. 31

NewsChannel 10 -- Amarillo, TX -- As the deadline for a 'fiscal cliff' resolution draws nearer, many wind energy projects across the panhandle and the nation are in limbo.

Texas leads the nation in wind energy production and potential, and the industry has seen meteoric growth over the last two decades. In fact, wind generation in the state increased twelvefold in the last ten years.

Much of that growth can be attributed to the Production Tax Credit, which allows producers to reduce costs by up to ninety percent in some cases. But now that tax cut may be lost amid the financial fallout if our nation's lawmakers can't avert the looming 'fiscal cliff.'

The Production Tax Credit was established in 1992 to help spur new growth in wind energy capacity in our search for renewable energy sources.


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Submitted Dec 11, 2012 By: aservant
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: Wind energy tax credit expires Dec. 31 Back to Topics
REPLIES (newest first) Post a Reply
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 19, 2012 11:14:12 PM

esquirrel: one is the 45 cent tax break that Pig Oil gets just to blend EtOH into gasoline. That's not counting the extra pennies (can't remember off hand how much) that Pig Oil gets on top of that for buying EtOH for the blending.
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sarasotasingle
Champion Author Sarasota

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Message Posted: Dec 18, 2012 2:22:18 AM

Let the tax credit go.
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E-Squirrel
Champion Author Orange County

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Message Posted: Dec 18, 2012 2:04:57 AM

honda0105 proclaims:

"Pig[sic] Oil started out with subsidies too."

Perhaps you can enlighten all of us with what these mythological "subsidies" that anti-petroleum advocates always like to mention, are, but can never identify.

[Edited by: E-Squirrel at 12/18/2012 2:07:03 AM EST]
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honda0105
Champion Author Tallahassee

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Message Posted: Dec 15, 2012 7:52:42 AM

sprocket: Pig Oil started out with subsidies too.
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clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 12, 2012 10:07:29 PM

Indeed I noticed that somehow it is wrong for big oil to use the same exact deductions and accounting practices that EVERY business is entitled to.

Singling out one business sector and saying they should not get those deductions and misconstruing them as subsidy is utterly ridiculous and dishonest.

This oft repeated lie is about demonizing an industry that supplies product used by the people spouting their lies.

Green is red. And in this case yellow as in cowardly and black as spreading darkness and not light.

.
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drpepperTX
Champion Author Texas

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Message Posted: Dec 12, 2012 4:24:11 PM

Message Posted: Dec 11, 2012 10:44:56 PM By clermont40miles:
Educate me. What subsidies does big oil get?

Normal business deductions and accounting practices that all businesses receive do not count.

Please explain.
====================
If you notice, Aviator_Rob cannot and will not answer that question with anything other than untruth's!

You see, folks like the aviator are nothing short of angry at businesses that actually produce something and create jobs including generating BILLIONS of $$$ in taxes at home and abroad. Their envy of successful businesses which all work under the same tax code is expressed simply in the balderdash of "fair share" whining and moaning. And they'll never say just exactly what "fair share" actually quantifies as, other than it's never enough.
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jrs4125
Champion Author Indiana

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Message Posted: Dec 12, 2012 8:13:47 AM

Dooooooh
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virostek
Veteran Author Virginia

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Message Posted: Dec 12, 2012 7:14:26 AM

OK.
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virostek
Veteran Author Virginia

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Message Posted: Dec 12, 2012 7:14:12 AM

OK.
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SkooterG
Champion Author Phoenix

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Message Posted: Dec 12, 2012 5:29:07 AM

Well said sprocketsplines.
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gravityhurts
Champion Author North Carolina

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Message Posted: Dec 12, 2012 5:10:34 AM

Good.
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sprocketsplines
Champion Author Washington

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Message Posted: Dec 12, 2012 2:37:58 AM

It is unfortunate that wind energy production in Texas seems to be only viable with a Production Tax Credit.
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 12, 2012 12:20:45 AM

business looks at money like a child looks at allowence. It got 5 dollars for the week on monday and better spend it all monday unable to see that if they invested in these other sources that after the initial expense they would save money down the road. but nope gotta have every penny today!
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OilOnTheCheap
Champion Author Ventura

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Message Posted: Dec 12, 2012 12:18:01 AM

Let the tax credit die.
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 12, 2012 12:17:43 AM

Aviator rob -- keep fighting the good fight but it is a losing battle trying to talk rationally to people willing to except factless blames of ONLY president Obama. They want to hate and blame and are unable to use reason. the extent of the parroting of FOX (FAUX) news makes them unable to be realistic. Again, there are several failings of both parties but so many people listen to rich people blaming someone else for your problems while they consistant buy politicians and pocket your money and do everything they can to eek out every single penny of profit. We need to research all forms of energy - the gov is stuck investing because there is little incentive for business and zero desire for business to invest.
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TIGERPAW46
Champion Author Florida

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Message Posted: Dec 12, 2012 12:08:09 AM

Of course. They were using wind and a type of Solar energy out west long before Gas & Electric companies talked everyone into changing to their products. As usual people & technology come full circle with some improvements.
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cheaper0ON
Champion Author Ontario

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Message Posted: Dec 12, 2012 12:01:29 AM

Hmmm.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 12, 2012 12:01:25 AM

Are you saying Romney would have done better, @mstearno? If you're for economic fairness, I can't see how you could back Mitt.
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rahcat
Champion Author Grand Rapids

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Message Posted: Dec 12, 2012 12:01:18 AM

Let them die.
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Chris46
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:59:20 PM

Not too much wind around here
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:58:59 PM

Who said anything about GE? They're just as guilty at gaming the tax code, shifting profits offshore and saying that all their money was earned overseas, where it can't be taxed. Is anybody buying that story?

Must be great to be a multi-national. It means that no one country can touch you. Just play one off of another.
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:58:56 PM

147 billion in revenue
Imalt must be an idiot to not make money
I guess that's why he was on Obama's (meet every 6 months) job consel
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:56:02 PM

Are you telling me GE made no PROFIT?
Let's call a wiggle worm for what it is
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:54:57 PM

Oh spare me, @mstearno. The difference between unions and corporations is the difference between one million and one billion but I guess you're not a math genius are you?

And it's one thing to invest in oil exploration and production and another to game the tax code in order to wriggle out of paying your fair share. Last time I checked, corporations are supposed to pay taxes on their profits, of which last year Big Oil earned $40 billion worth. That's not sales and revenue, that's PROFIT.

Big Oil doesn't need your help, @mstearno. They've hired enough people to defend them.
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:54:56 PM

right on BIGDIPPERMS
perhaps Solyndra would like to open under a new name so Obama can
Throw more taxpayer dollars away
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Nicoalbum
Champion Author Ottawa

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Message Posted: Dec 11, 2012 11:53:48 PM

Bye-bye credit
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bigdipperMS
Champion Author Mississippi

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Message Posted: Dec 11, 2012 11:53:07 PM

If after 20 years wind energy projects cannot stand on their own legs, maybe we are investing in the wrong kind of energy.
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:52:25 PM

ZERO
WHY?
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:51:45 PM

OMG
their's a key phrase fair share
What was GE's FAIR SHARE IN TAXES?
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:49:46 PM

The heck they don't count, @clermont40miles! Explain to all of us what the American people get out of all of those tax cuts so that Big Oil doesn't have to pay their fair share. Every dollar that Big Oil doesn't contribute has to be made up on the backs of the American people.
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gsayeg1
Champion Author Milwaukee

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Message Posted: Dec 11, 2012 11:49:40 PM

A lot of hot air?
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Marson
Champion Author Scranton

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Message Posted: Dec 11, 2012 11:48:40 PM

Interesting.
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mstearno
Champion Author Dayton

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Message Posted: Dec 11, 2012 11:47:03 PM

Aviator Rob sounds like an economic genius.
Sounds like you think oil should be discovered and recovered by small individual mom and pop gas stations.....
Sounds like you grew up in Mayberry.....
Big corps do spend money to get what they want
just like unions spend members dues to get what they want
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gd83goldwinger
Champion Author South Bend

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Message Posted: Dec 11, 2012 11:46:48 PM

???????
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:45:34 PM

Gee @postcard9. Looks like you have all the answers. Care to elaborate with a few more choice words?
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clermont40miles
Champion Author Cincinnati

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Message Posted: Dec 11, 2012 11:44:56 PM

Educate me. What subsidies does big oil get?

Normal business deductions and accounting practices that all businesses receive do not count.

Please explain.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:44:24 PM

@WanderDan does have a point. What too many people fail to realize is that deep-pocketed industries spending millions and millions of dollars on lobbying BOTH parties and contributing to the campaigns of both incumbents AND opponents. The result is that no matter who is elected, they owe their corporate benefactors for their generosity.
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postcard9
Champion Author Massachusetts

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Message Posted: Dec 11, 2012 11:43:01 PM

Fraud. Waste. Abuse. Period.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:40:52 PM

Really, @WIWalt??? Because the GOP didn't spend the previous eight years spending our taxpayer dollars like drunken sailors, right?
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 11, 2012 11:39:29 PM

JCS319 -- far from a GOP fan but NEITHER party voted to stop subsidies to oil companies. these companies have a strangle hold and pretty obvious they use lots of threats because we gotta have the juice - like a crack addict.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:39:20 PM

It takes energy to pump the oil out of the ground and refine it into the gasoline you put in your tank, @DeeMamma88.
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Aviator_Rob
Champion Author New York

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Message Posted: Dec 11, 2012 11:38:21 PM

A lot of people here are absolutely convinced that wind tax credits come directly out of their tax contribution. Relax people. Your tax dollars went to subsidize that perennial money-loser, the oil and gas industry.

Feel better now?
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DeeMamma88
Veteran Author San Bernardino

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Message Posted: Dec 11, 2012 11:38:12 PM

Maybe the wind will push my car to work for me & I won't have to spend so much on fuel!
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WIWalt
Champion Author Wisconsin

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Message Posted: Dec 11, 2012 11:37:00 PM

Good now o will have more money to give away
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WanderDan
All-Star Author Dayton

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Message Posted: Dec 11, 2012 11:35:17 PM

many people beleive this is investing ino our future like the gov did when funding research that led to the internet - gps and THOUSANDS of other things we use daily.
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JCS319
Champion Author Tacoma

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Message Posted: Dec 11, 2012 11:34:01 PM

If they drop the tax credit for wind, then end the subsidies for Big Oil. Oops, the GOP would never allow that to happen.
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dollarwatcher
Champion Author Wisconsin

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Message Posted: Dec 11, 2012 11:25:30 PM

Too bad. It's fuel is free and there is no by-product to bury.
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suzmar
Champion Author Texas

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Message Posted: Dec 11, 2012 11:25:21 PM

Good, I hope it is not brought back. Technologies need to stand or fall on their own without government subsidies.
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FlogNut
Champion Author Chicago

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Message Posted: Dec 11, 2012 11:24:47 PM

Dump the tax credits for wing energy.
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KhelbenArunson
Champion Author Michigan

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Message Posted: Dec 11, 2012 11:23:49 PM

Then renew it.
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