The Left and Eco-Socialist crowds are always yammering about the “subsidies” that the fossil fuel industry gets and telling that it isn’t fair. Well, nothing in life is fair like how they blame the industry and not the CongressTwits that put those laws into effect.
At the same time they are strangely very quiet about the tax credits that THEIR industry, renewables, receive because they know that if the tax credits aren’t there (as they have been for 22 years), investment in that industry withers away.
It’s almost as if (inject sarcasm here) investors know that without the tax credits, the whole renewable energy scene is a huge financial loser – here’s wind for an example:
If you want to understand how subsidy-driven (meaning politically-driven) energy investment has become, check out what has happened to new wind power installations when the lavish production tax credit (PTC) for wind power has been allowed to expire several times over the last two decades: investors stop buying the things. No wonder the wind industry has fought (successfully alas) to extend the PTC for several years to come: it’s the only way they can guarantee a profit.
The green columns show this stark truth rather clearly – remove the tax credits from wind project and investment plummets.
Each and every time. It isn’t the Wind they want, it’s money in their pockets. Even the Eco-Socialists know this – even while they demand a cease & desist for fossils.
It’s never an even playing field for these folks.