By Ben Geman and Zack Colman - 07/30/12 11:46 PM EDT
Hoeven said he backs going to a “market-based approach” for wind, but indicated he does not support simply letting the credit end completely at year’s end, instead calling for a “phase out” that is paid for.
“I think it really does come down to what can we work out where you have it paid for and you can get enough support here to actually pass the legislation,” Hoeven, who is helping craft the GOP’s platform for next month’s national convention, said Monday. The credit, which has not lapsed since 2004, will expire at the end of the year unless Congress acts.
Hoeven suggested that there’s a bright side to the differing views. “Maybe this will help bring us to some kind of agreement or compromise,” he said.
Wind has been a growth industry in several Midwest and Great Plains states, drawing support from both parties. Iowa Republican Rep. Tom Latham bashed the Romney campaign’s announcement that the former Massachusetts governor wants to end the credit.
“I’m disappointed that the statement by Governor Romney’s spokesperson shows a lack of full understanding of how important the wind energy tax credit is for Iowa and our nation. It’s the wrong decision. Wind energy represents one of the most innovative and exciting sectors of Iowa’s economy,” Latham said in a statement to The Des Moines Register.
President Obama, in a recent visit to Iowa and other forums, has been calling on Congress to extend the incentive. Sen. Mark Udall (D-Colo.), an outspoken backer of credits the wind industry calls vital, said in a statement Monday that letting the credit lapse would be “irresponsible.”
“The PTC is the basis for good-paying, renewable energy jobs here at home. Not renewing the PTC would effectively out-source these jobs to China and our competitors abroad,” Udall said.
But a House GOP freshman who has been at the forefront of calls to end a range of energy subsidies applauded Romney’s position.
Rep. Mike Pompeo (R-Kan.) said Romney’s opinion that the 2.2 cent per kilowatt-hour credit given to wind-energy producers should expire as scheduled on Dec. 31 was commendable.
“When the government bets on these energy technologies, it typically selects the most unaffordable energy leading to unnecessarily higher energy prices for all Americans,” Pompeo said in a statement. “Governor Romney is right to call for an end to these policies today, and I support his leadership and his decision wholeheartedly.”
Pompeo is the chief sponsor of the Energy Freedom and Economic Prosperity Act, which would eliminate a range of tax breaks for green power, biofuels and oil-and-gas, and offset the higher revenues with a commensurate cut in corporate tax rates.
From wind to coal (and NASCAR) ...
NASCAR driver Dale Earnhardt Jr. is used to photo finishes, and people will be seeing much more of him in new national TV and radio ads in his new role as a coal industry representative.
“In my company, the cars run on gas, but the business runs on electricity. That’s why I have been learning about how coal keeps electricity prices down, and that keeps the lights on and people working, which keeps companies like mine out in front,” Earnhardt Jr. says in the national ads for the American Coalition for Clean Coal Electricity (ACCCE), an industry group.
ACCCE sponsors JR Motorsports, Earnhardt Jr.’s management and racing outfit. As part of that sponsorship, JR Motorsports cars are tattooed with ACCCE labels, and Earnhardt Jr. and teammate Cole Witt do some advocacy work for ACCCE.
“These new ads will draw America’s attention to coal’s importance as a domestic energy source to power our economy – from manufacturing to motorsports and everything in between,” ACCCE senior vice president Evan Tracey said Monday in a statement.
ON TAP TUESDAY:
House hearing to look at coal policy
A House Oversight and Government Reform Committee panel will hold a field hearing in Ohio on Tuesday. The title: “The Green Agenda and the War on Coal: Perspectives from the Ohio Valley.” More info here.
Full committee begins talking about ‘No More Solyndras’
The full House Energy and Commerce Committee will gather Tuesday to begin the markup of the GOP’s “No More Solyndras” bill that would curtail the Energy Department’s loan guarantee program.
The opening statements will draw the battle lines, but the tussle over amendments and the voting itself won’t come until Wednesday. More here and here.
Panel to explore Clean Air Act
The House subcommittee on Energy and Power on Tuesday will convene the first of two forums this week on the Clean Air Act, events that arrive as Republicans are attacking EPA air pollution rules they call burdensome. More info here.
IN CASE YOU MISSED IT:
Check out these stories that ran on E2-Wire on Monday ...
- Conservative group hits GOP over energy subsidies in farm bill
- Livestock producers petition EPA to waive corn-ethanol mandate
- Reid: Nuclear official is a 'first-class rat' and a 'treacherous, miserable liar'
- Sen. Sanders: Inhofe 'dead wrong' on climate change
- Sierra Club targets GOP lawmakers for opposing wind energy tax credit
- Lawmaker to Geithner: Block China oil deal until royalties are paid
- Sen. Inhofe under fire on biofuels
- Senators promise to file energy measure as amendment to every Senate bill
- Romney campaign: Let wind energy credit die this year
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