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Domestic Oil Drilling everywhere, Clean Coal and Nuclear is the answer!
NOT!!!
So what did you think when you saw the head line of this thread?
We have a congress that is just plain dysfunctional... time for a drastic change... hopefully very soon. Here is a very important article about the pulse of what is going on in congress...
###
This again demonstrates the lack of vision of some of our elected officials. If you give incentives to a young market, the jobs and revenues that it creates put more money back in the government coffers than were originally given...
Please post and pass this on to your Senators (now) and keep it ready for your House members. The debate about "pay-fors" is a smokescreen. Ensuring that the renewable energy industry GROWS is in the Country's best interest. The benefits of that growth will more than make up for the costs of these incentives.
These arguments will hold for solar as well. Imagine- with one vote, our policy makers could capture both sets of benefits. Not to mention the many other benefits: reduced dependence on imported fuels, greater energy security, lower "international oil tensions"; global warming benefits, and benefits to individuals and companies that earn efficiency incentives, among other direct and indirect economic benefits.
Tax Revenues from Wind Farms More Than Offset Tax Incentive, GE Study Estimates
NEW YORK, June 18, 2008 – GE Energy Financial Services, a unit of GE (NYSE: GE), unveiled today a study estimating that a federal tax incentive set to expire Dec. 31 for wind energy projects more than pays for itself through tax revenues from the projects’ income, vendors’ profits and individual workers’ wages. The study – released at the American Council on Renewable Energy’s Renewable Energy Finance Forum in New York – estimated that wind farms built in 2007, supported by the production tax credit, carry a net present value benefit to the US Treasury of $250 million.
“Congress is debating how to pay for the wind tax credits perhaps without realizing that, over time, wind farms pump more money into the US Treasury and state and local coffers than they take out,” Kevin Walsh, Managing Director of renewable energy at GE Energy Financial Services, said at the conference today. “Our study shows that the wind farms more than pay for themselves through existing tax revenues, so it’s time to renew the incentives immediately.”
The production tax credit for wind – as well as similar incentives for solar and other renewable energy sources – has expired three times in the past nine years, each time causing a 76-90 percent drop in installed capacity from the previous year. The most recent attempt to renew the incentive failed earlier this month in a US Senate vote that centered on how to offset the cost of the production tax credit with tax revenues.
"Too often, politics, rather than economics, has shaped the debate about extending the production tax credit," said Michael Eckhart, President of the American Council on Renewable Energy. "GE's new study identifying additional economic benefits of the wind industry should bring all parties together, all supporting a proposition that is good for the environment, good for the economy, and even good for the federal treasury."
According to the study by GE Energy Financial Services, wind projects that went into operation last year generate federal income tax revenues from the projects, individual workers’ wages, vendors’ profits, and land leases. And they also provide federal tax revenue after 10 years, when the production tax credits expire. In addition to those federal tax revenues, the wind projects generate an estimated $6 million per year in local property taxes, $15 million annually in state income taxes on wages and profits during construction and $1.5 million per year in taxes while operating. Using a model developed by the National Renewable Energy Laboratory, wind farms built in 2007 in the United States created more than 17,000 construction-related jobs and 1,600 long-term operations-related jobs. In addition, the new wind farms provided major environmental benefits, avoiding approximately 10 million metric tons of carbon dioxide emissions annually, equivalent to taking 1.8 million cars off the road, GE estimates. The GE study does not analyze the wind industry’s economic effects on other energy sectors.
“Congress’ repeated failure to act could derail the wind energy industry at the worst possible time for the economy, placing 76,000 jobs and more than $11.5 billion in investment at risk,” said Randall Swisher, Executive Director of the American Wind Energy Association.
Wind makes up 80 percent of GE Energy Financial Services’ more than $3 billion renewable energy portfolio. The GE unit’s total US wind equity portfolio includes 34 farms that span 13 states and produce 3,550 megawatts of energy— enough to power approximately 1 million US homes. The company plans to invest $6 billion in renewable energy projects by 2010, including wind, solar, biomass, hydro and geothermal power generation.
For the full study, please visit:
http://www.geenergyfinancialservices.com/press_room/PTC_release.asp
About GE Energy Financial Services
GE Energy Financial Services’ 350 experts invest globally with a long-term view, backed by the best of GE’s technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $19 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $3 billion in assets in wind, solar, biomass, hydro and geothermal power. For more information, visit www.geenergyfinancialservices.com.
About GE
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
# # #
"Be the change you want to see in the world" -Gandhi
In-joy,
Bruce
www.EnergyIndependenceToday.com
www.SolarEnurgy.net
So what did you think when you saw the head line of this thread?
We have a congress that is just plain dysfunctional... time for a drastic change... hopefully very soon. Here is a very important article about the pulse of what is going on in congress...
###
This again demonstrates the lack of vision of some of our elected officials. If you give incentives to a young market, the jobs and revenues that it creates put more money back in the government coffers than were originally given...
Please post and pass this on to your Senators (now) and keep it ready for your House members. The debate about "pay-fors" is a smokescreen. Ensuring that the renewable energy industry GROWS is in the Country's best interest. The benefits of that growth will more than make up for the costs of these incentives.
These arguments will hold for solar as well. Imagine- with one vote, our policy makers could capture both sets of benefits. Not to mention the many other benefits: reduced dependence on imported fuels, greater energy security, lower "international oil tensions"; global warming benefits, and benefits to individuals and companies that earn efficiency incentives, among other direct and indirect economic benefits.
Tax Revenues from Wind Farms More Than Offset Tax Incentive, GE Study Estimates
NEW YORK, June 18, 2008 – GE Energy Financial Services, a unit of GE (NYSE: GE), unveiled today a study estimating that a federal tax incentive set to expire Dec. 31 for wind energy projects more than pays for itself through tax revenues from the projects’ income, vendors’ profits and individual workers’ wages. The study – released at the American Council on Renewable Energy’s Renewable Energy Finance Forum in New York – estimated that wind farms built in 2007, supported by the production tax credit, carry a net present value benefit to the US Treasury of $250 million.
“Congress is debating how to pay for the wind tax credits perhaps without realizing that, over time, wind farms pump more money into the US Treasury and state and local coffers than they take out,” Kevin Walsh, Managing Director of renewable energy at GE Energy Financial Services, said at the conference today. “Our study shows that the wind farms more than pay for themselves through existing tax revenues, so it’s time to renew the incentives immediately.”
The production tax credit for wind – as well as similar incentives for solar and other renewable energy sources – has expired three times in the past nine years, each time causing a 76-90 percent drop in installed capacity from the previous year. The most recent attempt to renew the incentive failed earlier this month in a US Senate vote that centered on how to offset the cost of the production tax credit with tax revenues.
"Too often, politics, rather than economics, has shaped the debate about extending the production tax credit," said Michael Eckhart, President of the American Council on Renewable Energy. "GE's new study identifying additional economic benefits of the wind industry should bring all parties together, all supporting a proposition that is good for the environment, good for the economy, and even good for the federal treasury."
According to the study by GE Energy Financial Services, wind projects that went into operation last year generate federal income tax revenues from the projects, individual workers’ wages, vendors’ profits, and land leases. And they also provide federal tax revenue after 10 years, when the production tax credits expire. In addition to those federal tax revenues, the wind projects generate an estimated $6 million per year in local property taxes, $15 million annually in state income taxes on wages and profits during construction and $1.5 million per year in taxes while operating. Using a model developed by the National Renewable Energy Laboratory, wind farms built in 2007 in the United States created more than 17,000 construction-related jobs and 1,600 long-term operations-related jobs. In addition, the new wind farms provided major environmental benefits, avoiding approximately 10 million metric tons of carbon dioxide emissions annually, equivalent to taking 1.8 million cars off the road, GE estimates. The GE study does not analyze the wind industry’s economic effects on other energy sectors.
“Congress’ repeated failure to act could derail the wind energy industry at the worst possible time for the economy, placing 76,000 jobs and more than $11.5 billion in investment at risk,” said Randall Swisher, Executive Director of the American Wind Energy Association.
Wind makes up 80 percent of GE Energy Financial Services’ more than $3 billion renewable energy portfolio. The GE unit’s total US wind equity portfolio includes 34 farms that span 13 states and produce 3,550 megawatts of energy— enough to power approximately 1 million US homes. The company plans to invest $6 billion in renewable energy projects by 2010, including wind, solar, biomass, hydro and geothermal power generation.
For the full study, please visit:
http://www.geenergyfinancialservices.com/press_room/PTC_release.asp
About GE Energy Financial Services
GE Energy Financial Services’ 350 experts invest globally with a long-term view, backed by the best of GE’s technical know-how and financial strength, across the capital spectrum and the energy and water industries, to help their customers and GE grow. With $19 billion in assets, GE Energy Financial Services, based in Stamford, Connecticut, invests more than $5 billion annually in two of the world’s most capital-intensive industries, energy and water. In renewable energy, GE Energy Financial Services is growing its portfolio of more than $3 billion in assets in wind, solar, biomass, hydro and geothermal power. For more information, visit www.geenergyfinancialservices.com.
About GE
GE (NYSE: GE) is Imagination at Work -- a diversified technology, media and financial services company focused on solving some of the world’s toughest problems. With products and services ranging from aircraft engines, power generation, water processing and security technology to medical imaging, business and consumer financing, media content and advanced materials, GE serves customers in more than 100 countries and employs more than 300,000 people worldwide. For more information, visit www.ge.com.
# # #
"Be the change you want to see in the world" -Gandhi
In-joy,
Bruce
www.EnergyIndependenceToday.com
www.SolarEnurgy.net
Replies to This Discussion
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Permalink Reply by kennedy on -
Coal is a democratic fuel in that it is spread relatively consistently over the globe.It's not the matter,but producing the Coal as Clean is a great Idea and very challenging.It is far more plentiful than natural gas and oil and takes less complex infrastructure than nuclear to utilise. In the future it will be the energy source of base load electricity, and will fill the gaps when renewable and other energy sources cannot meet demand.
Follow the link:lincenergy.us
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Permalink Reply by kennedy on
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In general, Europe is mandating the increased use of renewable energy sources such as wind, wave, and solar. But currently, these sources are not, in most cases, as economical as fossil fuels – even at gas’s fluctuating prices. Other parts of the world are looking back to nuclear energy and to other ‘clean’ fossil fuels.
Follow the link:lincenergy.us
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Permalink Reply by PeterSon_12k on
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The exhaust gas is a relatively pure stream of CO2 that is ready for capture and sequestration or alternative uses such as enhanced oil recovery.
When the coal industry was born, was there a fairy lurking by the crib with an unexpected promise to bestow? Because the infant that grew up to become King Coal is starting to believe it’s got the mother of all magic wishes up its sleeve. It’s looking to transform itself from grimy smokestack polluter and arch-belcher of greenhouse gas, to fuel of choice in a carbon-constrained world.
Coal companies employ over 80,000 Americans and provide over half the electrical power to our country.When coal burns, it releases carbon dioxide and other emissions in flue gas, the billowing clouds you see pouring out of smoke stacks. Some Clean Coal Technologies purify the coal before it burns. One type of coal preparation, coal washing, removes unwanted minerals by mixing crushed coal with a liquid and allowing the impurities to separate and settle and reduce the global warming.
Follow the Link:lincenergy.us/
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Permalink Reply by MikeKateWilson_12k on
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Coal is the enemy of the human race. It is corrosive to the communities and ecosystems where it is mined. Coal-fired power plants spew particulates and mercury pollution in to the air, cutting short some 30,000 lives a year. Those power plants are also responsible for 40 percent of U.S. carbon dioxide emissions; electric power generation is the single biggest source of global greenhouse gases. The industry funds deliberately deceptive propaganda campaigns about global warming. Coal barons like Massey Energy's Don Blankenship openly purchase state government officials to fight off labor and environmental enforcement.
So-called "Clean Coal " is an improvement, if it is coupled with carbon sequestration. But, as I've argued, the full cost of coal liquefaction and carbon sequestration will make coal power uncompetitive with, for example, wind.
Follow the Link:lincenergy.us/
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Permalink Reply by MikeKateWilson_12k on
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Andris Bielbalgs visited the construction site of the Torrevaldalliga Nord project that will create a Clean Coal power plant out of a former fuel oil plant, cutting emissions from the plant by 80%, as part of a visit to Italy to discuss the EU energy green paper.
As well as cutting emissions the project hopes to help balance Italy's electricity generation mix, according to Italian electricity retailer Enel, the company behind the project.For years, scientists have had a straightforward idea for taming global warming. They want to take the carbon dioxide that spews from coal-burning power plants and pump it back into the ground.
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