19 Sep '12, 2am

Congress is Going to Kill Wind Power, Despite Pleas from Levi's & Starbucks

Levi Strauss and Starbucks are among 19 major companies that signed a letter imploring Congress to renew the wind production tax credit that's set to expire at the end of the year. Obama has voiced support for the credit, Romney's against it, and Congress; well, Congress is doing that thing where it collapses in upon itself in a sputtering pile of stalemated dysfunction. Phillip Bump points us to the meat of the well-intentioned letter that will almost certainly do next to nothing to change the fortunes of this all-important credit: In the past decade American businesses have significantly ramped up their purchase of American wind energy. For consumers of wind electricity, the economic benefits of the PTC are tremendous. Electricity rates, which reflect marginal costs for power plant operations and fuel prices, consistently decrease when wind enters the market. Because win...

Full article: http://www.treehugger.com/environmental-policy/congress-g...

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