Pyle Urges Wyden to Examine PTC

WASHINGTON — American Energy Alliance President Thomas Pyle sent a letter today to Sen. Ron Wyden (D-Ore.) urging him to initiate a full inquiry into past extensions of the wind Production Tax Credit (PTC). As the new Chairman of the Senate Finance Committee, Sen. Wyden has already expressed support for a tax extenders package that includes the wind PTC. American taxpayers deserve to know the full economic impacts of wind subsidies before Sen. Wyden even considers tax extenders. The letter reads:

As you know, Congress voted last year to give the wind industry another year of subsidies, which the Joint Committee on Taxation pegged at a $12 billion cost to taxpayers. Congress has a duty to consider the full impacts of last year’s expansion of the wind Production Tax Credit before committing billions more to an industry whose technology former Energy Secretary Steven Chu labeled “mature.”  In fact, AWEA proudly boasts that at the end of last year, “there were more U.S. wind power MW under construction than ever in history.”

The American people deserve a full airing of the cumulative economic impacts of wind subsidies, and the Senate Finance Committee has a unique responsibility to assess these impacts. We urge you, therefore, to initiate a full inquiry into the success of past extensions of the wind PTC to determine if taxpayers have received the benefit that policymakers and wind lobbyists promised.  We would also urge the Committee to investigate the other nations who have subsidized and/or mandated renewable energy and are now rapidly moving away from this model because of skyrocketing consumer energy costs.  By examining the experience of others, the U.S. may be able to avoid some of the same mistakes.

The American Energy Alliance welcomes a full discussion of this matter before the Senate Finance Committee and would eagerly participate in a meaningful conversation about the merits of the wind PTC, specifically, and all energy subsidies in general. A common sense U.S. energy policy should be guided by solid facts, sound science and an assessment of the impacts of these policies to the marketplace and the costs to consumers.

To read the full letter, click here.

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