Rumors are aflyin’ that Nancy Pelosi (House leader) and Harry Reid (Senate leader) are considering removing tax credits for wind and solar energy from the pending energy legislation, in an effort to get something that’ll pass resistance in Congress and the White House. These are just rumors, of course, but the progressive & environmental blogosphere is worked up about it.
I’ve learned from concerned advocates that Democratic congressional leadership is considering stripping the production tax credits for wind and solar, along with the federal renewable portfolio standard, from the conference bill. Losing the RPS and the PTC would mean jettisoning basically every measure that the White House has complained about. Apparently, Reid and Pelosi may have decided that a bill with a Renewable Fuel Standard (i.e., monstrous subsidies for ethanol) and a boost in CAFE standards is enough to secure Democratic bragging rights on energy.
If this happens, it will mean there’s bupkis in the energy bill for renewable electricity, imperiling probably billions of dollars in solar and wind contracts that have been written with the expectation that the production tax credits will lower costs to investors and consumers.
I made the comment earlier: “Watch what happens in the House as Nancy Pelosi tries to get an energy bill passed before Thanksgiving. What kind of compromises will she accept in order to put a feather in her and her party’s cap?”
I’m really hoping that these rumors are just rumors. But just in case, if you think it’s a good idea for our country to invest in renewable wind and sun energy, please contact your representative. You can also reach Representative Pelosi’s office at (202) 225-4965 and Senator Reid’s office at (202) 224-3542.