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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

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honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Dec 19, 2012 9:14:12 PM Ignore honda0105 Report Abuse 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.
sarasotasingle Sophomore Author Sarasota Posts:201 Points:237,780 Joined:Jun 2012	Message Posted: Dec 18, 2012 12:22:18 AM Ignore sarasotasingle Report Abuse Let the tax credit go.
E-Squirrel Champion Author Orange County Posts:3,015 Points:820,970 Joined:Feb 2005	Message Posted: Dec 18, 2012 12:04:57 AM Ignore E-Squirrel Report Abuse 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]
honda0105 Champion Author Tallahassee Posts:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Dec 15, 2012 5:52:42 AM Ignore honda0105 Report Abuse sprocket: Pig Oil started out with subsidies too.
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Dec 12, 2012 8:07:29 PM Ignore clermont40miles Report Abuse 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. .
drpepperTX Champion Author Texas Posts:8,955 Points:754,910 Joined:Apr 2011	Message Posted: Dec 12, 2012 2:24:11 PM Ignore drpepperTX Report Abuse 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.
jrs4125 Champion Author Indiana Posts:2,773 Points:594,670 Joined:Sep 2011	Message Posted: Dec 12, 2012 6:13:47 AM Ignore jrs4125 Report Abuse Dooooooh
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Dec 12, 2012 5:14:26 AM Ignore virostek Report Abuse OK.
virostek Veteran Author Virginia Posts:423 Points:90,285 Joined:Oct 2012	Message Posted: Dec 12, 2012 5:14:12 AM Ignore virostek Report Abuse OK.
SkooterG Champion Author Phoenix Posts:1,359 Points:330,085 Joined:May 2012	Message Posted: Dec 12, 2012 3:29:07 AM Ignore SkooterG Report Abuse Well said sprocketsplines.
gravityhurts Champion Author North Carolina Posts:4,103 Points:940,205 Joined:Sep 2008	Message Posted: Dec 12, 2012 3:10:34 AM Ignore gravityhurts Report Abuse Good.
sprocketsplines Champion Author Washington Posts:1,697 Points:863,565 Joined:Oct 2010	Message Posted: Dec 12, 2012 12:37:58 AM Ignore sprocketsplines Report Abuse It is unfortunate that wind energy production in Texas seems to be only viable with a Production Tax Credit.
WanderDan All-Star Author Dayton Posts:591 Points:145,360 Joined:Nov 2012	Message Posted: Dec 11, 2012 10:20:45 PM Ignore WanderDan Report Abuse 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!
OilOnTheCheap Champion Author Ventura Posts:2,116 Points:452,335 Joined:Jan 2012	Message Posted: Dec 11, 2012 10:18:01 PM Ignore OilOnTheCheap Report Abuse Let the tax credit die.
WanderDan All-Star Author Dayton Posts:591 Points:145,360 Joined:Nov 2012	Message Posted: Dec 11, 2012 10:17:43 PM Ignore WanderDan Report Abuse 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.
TIGERPAW46 Champion Author Florida Posts:7,141 Points:1,358,605 Joined:Mar 2004	Message Posted: Dec 11, 2012 10:08:09 PM Ignore TIGERPAW46 Report Abuse 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.
cheaper0ON All-Star Author Ontario Posts:998 Points:400,980 Joined:Jan 2012	Message Posted: Dec 11, 2012 10:01:29 PM Ignore cheaper0ON Report Abuse Hmmm.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 10:01:25 PM Ignore Aviator_Rob Report Abuse Are you saying Romney would have done better, @mstearno? If you're for economic fairness, I can't see how you could back Mitt.
rahcat Champion Author Grand Rapids Posts:2,483 Points:665,125 Joined:Jan 2010	Message Posted: Dec 11, 2012 10:01:18 PM Ignore rahcat Report Abuse Let them die.
Chris46 Champion Author Dayton Posts:23,716 Points:2,084,490 Joined:Sep 2005	Message Posted: Dec 11, 2012 9:59:20 PM Ignore Chris46 Report Abuse Not too much wind around here
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:58:59 PM Ignore Aviator_Rob Report Abuse 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.
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:58:56 PM Ignore mstearno Report Abuse 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
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:56:02 PM Ignore mstearno Report Abuse Are you telling me GE made no PROFIT? Let's call a wiggle worm for what it is
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:54:57 PM Ignore Aviator_Rob Report Abuse 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.
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:54:56 PM Ignore mstearno Report Abuse right on BIGDIPPERMS perhaps Solyndra would like to open under a new name so Obama can Throw more taxpayer dollars away
Nicoalbum Champion Author Ottawa Posts:6,032 Points:1,191,700 Joined:Jan 2010	Message Posted: Dec 11, 2012 9:53:48 PM Ignore Nicoalbum Report Abuse Bye-bye credit
bigdipperMS Champion Author Mississippi Posts:1,526 Points:539,680 Joined:Apr 2011	Message Posted: Dec 11, 2012 9:53:07 PM Ignore bigdipperMS Report Abuse If after 20 years wind energy projects cannot stand on their own legs, maybe we are investing in the wrong kind of energy.
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:52:25 PM Ignore mstearno Report Abuse ZERO WHY?
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:51:45 PM Ignore mstearno Report Abuse OMG their's a key phrase fair share What was GE's FAIR SHARE IN TAXES?
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:49:46 PM Ignore Aviator_Rob Report Abuse 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.
gsayeg1 All-Star Author Milwaukee Posts:796 Points:140,985 Joined:Jun 2008	Message Posted: Dec 11, 2012 9:49:40 PM Ignore gsayeg1 Report Abuse A lot of hot air?
Marson Champion Author Scranton Posts:8,962 Points:2,081,085 Joined:Oct 2006	Message Posted: Dec 11, 2012 9:48:40 PM Ignore Marson Report Abuse Interesting.
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Dec 11, 2012 9:47:03 PM Ignore mstearno Report Abuse 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
gd83goldwinger Champion Author South Bend Posts:1,428 Points:504,980 Joined:May 2011	Message Posted: Dec 11, 2012 9:46:48 PM Ignore gd83goldwinger Report Abuse ???????
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:45:34 PM Ignore Aviator_Rob Report Abuse Gee @postcard9. Looks like you have all the answers. Care to elaborate with a few more choice words?
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Dec 11, 2012 9:44:56 PM Ignore clermont40miles Report Abuse Educate me. What subsidies does big oil get? Normal business deductions and accounting practices that all businesses receive do not count. Please explain.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:44:24 PM Ignore Aviator_Rob Report Abuse @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.
postcard9 All-Star Author Massachusetts Posts:883 Points:515,445 Joined:May 2011	Message Posted: Dec 11, 2012 9:43:01 PM Ignore postcard9 Report Abuse Fraud. Waste. Abuse. Period.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:40:52 PM Ignore Aviator_Rob Report Abuse Really, @WIWalt??? Because the GOP didn't spend the previous eight years spending our taxpayer dollars like drunken sailors, right?
WanderDan All-Star Author Dayton Posts:591 Points:145,360 Joined:Nov 2012	Message Posted: Dec 11, 2012 9:39:29 PM Ignore WanderDan Report Abuse 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.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:39:20 PM Ignore Aviator_Rob Report Abuse It takes energy to pump the oil out of the ground and refine it into the gasoline you put in your tank, @DeeMamma88.
Aviator_Rob Champion Author New York Posts:3,810 Points:416,340 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:38:21 PM Ignore Aviator_Rob Report Abuse 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?
DeeMamma88 Veteran Author San Bernardino Posts:352 Points:284,355 Joined:May 2012	Message Posted: Dec 11, 2012 9:38:12 PM Ignore DeeMamma88 Report Abuse Maybe the wind will push my car to work for me & I won't have to spend so much on fuel!
WIWalt Champion Author Wisconsin Posts:1,741 Points:418,470 Joined:Mar 2012	Message Posted: Dec 11, 2012 9:37:00 PM Ignore WIWalt Report Abuse Good now o will have more money to give away
WanderDan All-Star Author Dayton Posts:591 Points:145,360 Joined:Nov 2012	Message Posted: Dec 11, 2012 9:35:17 PM Ignore WanderDan Report Abuse 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.
JCS319 Champion Author Tacoma Posts:20,479 Points:2,544,730 Joined:Dec 2005	Message Posted: Dec 11, 2012 9:34:01 PM Ignore JCS319 Report Abuse If they drop the tax credit for wind, then end the subsidies for Big Oil. Oops, the GOP would never allow that to happen.
dollarwatcher Champion Author Wisconsin Posts:7,955 Points:1,537,170 Joined:Mar 2007	Message Posted: Dec 11, 2012 9:25:30 PM Ignore dollarwatcher Report Abuse Too bad. It's fuel is free and there is no by-product to bury.
suzmar Champion Author Texas Posts:2,213 Points:874,085 Joined:Jun 2006	Message Posted: Dec 11, 2012 9:25:21 PM Ignore suzmar Report Abuse Good, I hope it is not brought back. Technologies need to stand or fall on their own without government subsidies.
FlogNut Champion Author Chicago Posts:104,395 Points:1,991,350 Joined:Oct 2007	Message Posted: Dec 11, 2012 9:24:47 PM Ignore FlogNut Report Abuse Dump the tax credits for wing energy.
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,040 Joined:Apr 2008	Message Posted: Dec 11, 2012 9:23:49 PM Ignore KhelbenArunson Report Abuse Then renew it.