...and thereby threaten to take the whole corrupt and dismally inefficient, rent-seeking Pack down with it. We should all stand and cheer —
That was the good news, but the bad news is that the slugs will try their best to hurry through the worthless projects they have already started to tap the taxpayers for as much as they can before abandoning their eyesores where they stand, as they historically have done once the sustaining government subsidies play out, leaving giant brooding and broken hulks rotting in fields and hilltops everywhere.The wind power industry is predicting massive layoffs and stalled or abandoned projects after a deal to renew a tax credit failed Thursday in Washington.
The move is expected to have major ramifications in states such as Illinois, where 13,892 megawatts of planned wind projects — enough to power 3.3 million homes per year — are seeking to be connected to the electric grid...
Wind proponents tried to tuck the tax credit extension, which provides an income tax credit of 2.2 cents per kilowatt-hour for the production of electricity from wind turbines, in legislation aimed at extending payroll tax cuts. But congressional leaders did not include it in that bill.
There is still a possibility the wind power tax credits could come through as a stand-alone bill or tied to other legislation. But Washington insiders say that is unlikely to happen before the election in November.
By then, the wind industry says, it will be too late to avoid massive layoffs and project delays, because wind projects slated for 2013 should already be far along...
http://www.chicagotribune.com/busine...,7153601.story
http://www.bdoutdoors.com/forums/ima...ilies/appl.gif...In order for developers to receive the expiring tax credit, they must have turbines up and running before year's end. As a result, 2012 is shaping up to be a banner year as developers race to complete projects.
But few such projects are slated for 2013. Developers say they either accelerated projects to be completed this year or pulled back because of uncertainty about the tax credit...



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