Serves big business, hurts the environment
By Kevon Martis and Tauna Christensen
Wednesday, December 26, 2012
The Washington Times
Regarding the federal deficit, President Obama famously said, “I will not support any plan that puts all the burden for closing our deficit on ordinary Americans [and yet does not ask] the biggest corporations to pay their fair share.” Now, however, Mr. Obama vigorously supports at least one policy that violates that pledge: the federal production tax credit (PTC) for wind energy.
Conceived in 1992 as a means to spur the construction of wind-energy facilities that could compete with monopoly-owned conventional fossil-fuel power plants, this hefty tax credit mostly has benefited the same monopoly: conventional nuclear and fossil-fuel-fired electricity producers.
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