Walter Jones goes after wind energy tax credits

Pretty sure the word "mature" doesn't mean what he thinks it does:

“It is long past time for the federal government to stop forcing American taxpayers to spend billions of dollars to prop up a now-mature energy source,” said Congressman Jones. “Combined with my concerns about the effects of wind turbines on the military installations and residents of Eastern North Carolina, I fully support the expiration of the PTC at the end of this year.”

Yeah right, this doesn't have a damn thing to do with Cherry Point, it's simply another push by the Koch Brothers to snuff out alternative energy sources, and Walter Jones is scrambling to please them before they Primary his ass into oblivion. Not to mention the rest of the usual suspects:

Congressman Jones is also a cosponsor of H.R. 259, the 2013 Energy Freedom and Economic Prosperity Act (EFEPA), which would repeal a variety of taxpayer subsidies for energy activities, including wind, solar, oil, and gas. The bill has garnered support from the American Energy Alliance, Americans for Prosperity, Americans for Tax Reform, the Club for Growth, Council for Citizens Against Government Waste, Freedom Action, Heritage Action, National Taxpayers Union, 60 Plus Association, and Taxpayers for Common Sense.

Bolding mine. This is a really clever way to put on a cloak of objectivity while still raking in billions in oil subsidies. See, the law calls for the repeal of a couple of oil subsidies (marginal well production and enhanced oil recovery) but leaves in place several others that account for the bulk of the billions in tax breaks oil companies enjoy.

The big difference (dollar wise) people need to keep in mind when comparing wind and oil subsidies is that wind doesn't bring in revenue until the watts are generated, and the money that represents is marginal. Big cost upfront, and several years to ROI. Oil, on the other hand, generates profits through every stage of production, and the end product is more than just gasoline. Petroleum byproducts are an industry unto themselves, and many of those tax credits keep on giving in that industry, as well.

Trying to compare the two subsidies is like trying to compare an apple with the Big Apple. And any elected official who falls for that stunt is either an idiot or a crook.

Comments

Let's run that through the translator

“It is long past time for the federal government to continue forcing American taxpayers to spend billions of dollars to prop up the Koch brothers and their dirty, non-renewable energy business,” said Congressman Jones, via the BlueNC translator. “Combined with my awe of the Kochs and my allegiance to ALEC, I scoff at wind turbines and fully support the expiration of the PTC at the end of this year, unless we can do it this week. Can I PLEASE serve another term David and Charles?”

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"I will have a priority on building relationships with the minority caucus. I want to put substance behind those campaign speeches." -- Thom Tillis, Nov. 5, 2014