The free-market Institute for Energy Research issued a study Thursday that argued the federal government has underestimated the cost of wind power generation on consumers and taxpayers.
The study, by Texas Tech University professor Michael A. Giberson, comes as the wind industry and opponents gear up to lobby Congress over the future of the federal wind Production Tax Credit, which expires at the end of the year.
An analysis from the Joint Committee on Taxation projected a one-year extension of the wind production tax credit would cost $6.1 billion over the next decade and a five-year extension would cost $18.5 billion, The Hill reports.
A House Oversight and Government Reform subcommittee will debate Wednesday the uncertain future of the Production Tax Credit, a key tax break for the wind industry that is due to expire at the end of the year.
A representative of the American Wind Energy Association will call for another extension as a way to boost wind power manufacturing and electricity fuel diversity, according to his prepared testimony. But a free-market advocate will argue the tax break has outlived its purpose and should be terminated.
The Interior Department's internal watchdog said late Monday that officials have yet to fully develop rules and procedures needed for renewable energy development on Outer Continental Shelf leases, including the creation of a separate safety regulator.
The report comes as the Cape Wind project off Massachusetts is to begin construction next year, followed by expected development of other Atlantic Ocean tracts after 2020.
House Oversight and Government Reform Energy Policy, Health Care and Entitlements Subcommittee hearing, "Oversight of the Wind Energy Production Tax Credit." IRS Associate Chief Counsel Curtis G. Wilson to testify.
The problems in Ukraine are unlikely to trigger faster action by the Obama administration on natural gas exports, a White House spokesman appeared to indicate Friday, as he noted that supplies in Europe are at higher-than-normal levels because of the mild winter there, according to Reuters.
Public Service Enterprise Group plans to spend $12 billion over five years on capital projects to improve reliability, hoping to increase the earnings of its utility business, The Wall Street Journal reports.
Weather-related rail bottlenecks in Chicago are causing higher prices and lower supplies of ethanol on the East coast, while Midwest plants are cutting production because of a shortage of rail cars, an industry representative told a U.S. Surface Transportation Board panel, Platts reports.
Investors will challenge corporations during the upcoming proxy season to make more environmental commitments, according to nonprofit Ceres, which has compiled a list of resolutions up for votes, E&E reports.
Saying President Obama's proposed "climate resilience fund" will help communities prepare better for severe weather might win it bipartisan support, according to Sen. Brian Schatz, D-Hawaii, National Journal reports.