Green Handouts at DOE


Today’s WSJ has the skinny on the millions of dollars being handed out to wind- and solar-power developers by the United States Department of Energy. Of the $502 million awarded this round, $294 million went to a Spanish wind-power company, while $47.7 million went to the U.S. unit of a Portuguese wind-power developer. And we’re just getting started, folks. Why? The government handout program has no cap and “government officials pledged to award grants to all qualified applicants through 2011.” The trough is overflowing. Supper’s on, so step on up.    My favorite quotation from the article (and something I spent pages and pages examining in my study on Texas wind power) comes from the CEO of EverPower Wind Power, Inc. (majority stake held by British private quity firm, by the way), which received $42.2 million for a Pennsylvania wind farm: “In order to make power economical, it requires a tax subsidy.” No kidding. Translation: Wind power isn’t ready for prime time, hard-working taxpayers, so fork it over, so we can play ball with the big boys who keep your lights on and your bills low. 


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