Another awesome policy decision from the Republican Presidential hopeful…
‘Romney’s campaign confirmed this week he wants to end long-standing tax credits for wind farm projects when the incentives come up for review later this year.
The pledge means the popular production tax credits (PTCs) – which have helped drive a surge in new wind energy investment in the US, making it the second largest wind energy market in the world after China – would be allowed to expire at the end of this year if the Republicans secure the White House in November.’
The reason? To create a level playing field between all the different types of power generators. But…
‘However, green groups, renewable energy industry insiders, and Democrats were all quick to point out that Romney’s desire for a level playing field on energy policy does not extend to oil and gas, where he has pledged to retain up to $40bn of subsidies and tax breaks that President Obama wants to see phased out.’
I really hope the American voters see this for what it is. The denial of climate-change science and the support for the big energy industries which are bank-rolling the Mitt Romney campaign should not determine global energy policy.
Maybe we should add up how much funding in tax breaks, incentives, subsidies etc the oil, coal and gas industries have benefitted from over the last 50 years and apply that level to the new, renewable industries, such as wind, solar and tidal/hydro?