By Lisa Linowes -- November 18, 2016
“After billions in public hand-outs spanning nearly four decades, big wind has never been able to stand on its own and there’s no reason to believe this will change. … If yanking the handouts causes the industry to flat line then so be it. The US has elected a businessman at the helm who understands what it means to cut your losses. It’s time we did exactly that!”
Last week, untold thousands of Americans in deep-red counties took a stand. After eight years of “bureaucracy knows best” and the abuses that followed, voters shouted ‘NO’ to the wanton march of government-funded industrial wind turbines destroying the landscape and threatening their communities. The Trump victory will finally put an end to big wind’s vice grip on Washington.
And you can bet the wind sector is in full panic mode. But don’t expect to hear about it in the press. Instead, we’ve been barraged with stories about wind’s unstoppable success, its popularity with windy red-state republicans and how the busy new administration couldn’t be bothered with tax credit programs that are already set to phase down. Within days of the election, one unnamed “major Trump financial contributor” claiming to have the inside track on the transition reassured folks that “everything with renewables continues; the credits will remain in place.”
Sorry. We’re not buying it. And neither is Continental Resources Inc. chief Harold Hamm, Trump’s chief adviser on energy issues who argues that subsidies for renewable energy like solar and wind, and credits for electric cars, should be eliminated.
There are 2 very good reasons to think a Trump administration will act quickly to gut the subsidies.
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