Wind energy supporters are asking for just a few more years of the lucrative federal tax credit that supports the industry, but a few House Republicans yesterday worried that savvy developers could exploit existing Internal Revenue Service guidelines to benefit from the incentive indefinitely. Industry officials and tax experts say those fears are unfounded. But the concerns voiced at a hearing yesterday demonstrate growing skepticism toward the credit, whose fate is closely tied to ongoing negotiations over comprehensive tax reform.
Wealthy climate activist Tom Steyer, best known for his campaign-trail fight against the Keystone XL oil pipeline, today took a bipartisan turn in a new alliance with New York City Mayor Michael Bloomberg and former GOP Treasury Secretary Hank Paulson that focuses on the economic risks of climate change. The trio’s project, dubbed “Risky Business,” aims to harness the data-driven expertise of industries that are poised to take a financial hit from — and, in some cases, already are planning for — unchecked global warming. Yet whether the heavy hitters attached to the new study can make a dent in Washington’s current climate policy impasse, and whether Steyer’s affinity for political combat over energy issues steals attention from the effort, remains unclear.
President Obama’s pick to lead the Federal Energy Regulatory Commission has asked that his name be yanked from consideration, citing a deadlocked Senate panel and stiff opposition from right-wing groups that turned the confirmation process into a “blood sport.” “I think it’s a cautionary tale because you don’t want agencies like the FERC to be subjected to this kind of political blood sport, which is what it became,” Ron Binz said during an interview today. “There was a very large coalition of right-wing groups who coalesced to oppose me.”
With Binz’s withdrawal, rumors surface that Obama will look for a less controversial choice to head FERC
A flurry of potential candidates to replace President Obama’s fallen nominee to lead the Federal Energy Regulatory Commission are surfacing, but exactly when the White House will choose another candidate to push through a gridlocked Congress remains unclear. The front-runner is said to be Colette Honorable, chairwoman of the Arkansas Public Service Commission, who will soon take the helm of the National Association of Regulatory Utility Commissioners, according to one Democratic Senate aide.
House Republicans will take aim at wind energy tax credits at a House Oversight and Government Reform Committee hearing. And they’re using the government shutdown as ammunition for political attacks.
“With the federal government currently at a standstill over budget negotiations, it is imperative for Congress to continue to root out and address wasteful spending of taxpayer dollars,” states an advisory for the Wednesday hearing on the production tax credit.
The Interior Department is evaluating a Seattle company’s proposal to install what could be the nation’s first commercial-scale floating wind turbines off the coast of Oregon The Bureau of Ocean Energy Management on Friday said it is determining whether there is any competitive interest in the 15-square-mile area off Coos Bay, where Principle Power Inc. has proposed building a 30-megawatt wind farm.
The Danish wind turbine manufacturer Vestas received a financial lift on Friday as it announced a joint venture with Mitsubishi Heavy Industry of Japan to develop offshore wind energy. While Vestas is the world’s largest maker of wind turbines, along with General Electric, it has been slow to move into the market for offshore turbines. That has allowed Siemens in Europe to gain an expanding share of the small but fast-growing sector
The Federal Energy Regulatory Commission this week defended one of its largest and most controversial rules in a federal appeals court against a host of state regulators, utilities and industry groups that have accused the agency of overstepping its authority. FERC told the U.S. Court of Appeals for the District of Columbia Circuit that it acted within its legal rights under the Federal Power Act to issue its 2011 ruling, dubbed “Order 1000,” which aims to transform the way power lines are planned across the country.
The White House is considering other candidates to replace President Obama’s troubled pick of Colorado regulator Ron Binz to lead the Federal Energy Regulatory Commission, a spokesman for the Senate Energy and Natural Resources Committee said today. “The committee is aware other candidates are being considered for FERC,” said Keith Chu, spokesman for Chairman Ron Wyden (D-Ore.).
A House committee this week will revive a debate that has been dormant on Capitol Hill for most of this year with a hearing examining the implications of a key renewable energy tax credit that again is set to expire in a few months. The future of the wind production tax credit was among the biggest energy policy issues debated in Congress last year, leading to an eleventh-hour extension in January as part of a broader fiscal package. Since then, lawmakers have turned their attention elsewhere, and the fate of the PTC fell in with broader negotiations around a comprehensive overhaul of the tax code.