Dogging Vermont Issues

Comment on “Payments promised town residents if voters OK wind project”

https://www.washingtonpost.com/business/payments-promised-town-residents-if-voters-ok-wind-project/2016/10/30/8dbfcd5e-9ebe-11e6-8864-6f892cad0865_story.html

Payments promised town residents if voters OK wind project

 October 30
GRAFTON, Vt. — Political style yard-signs with the giant word “NO” over the image of a wind turbine pop up on roads leading into the southern Vermont town of Grafton, evidence that yet another community in the state is debating whether to become home to an industrial wind farm.

But added to an already emotional debate in Grafton and neighboring Windham is the developer’s promise of direct payments to residents of the two towns if voters approve the project Nov. 8. Some are calling that offer, first made public this month, an outright bribe.

Click here to read more

One thought on “Comment on “Payments promised town residents if voters OK wind project””

  1. https://www.washingtonpost.com/business/payments-promised-town-residents-if-voters-ok-wind-project/2016/10/30/8dbfcd5e-9ebe-11e6-8864-6f892cad0865_story.html

    Below is my comment on the above article:

    Iberdrola appeasements: a bigger bribe, fewer wind turbines

    That sacrifice is chicken feed compared to the enormous gains

    The cap cost about $220 million for 82.8 MW; federal and state CASH GRANTS about 40% ($88 million)

    All written off in about 6 years, courtesy of a special “accelerated depreciation” law for IWTs.

    Revenues = 82.8 MW x 8766 x 0.33 x $100 MWh = $23,952,219 per year for EACH of 20-25 years

    RECs will be sold out of state for 4-5 c/kWh
    Iberdrola likely will not pay federal or state profit taxes on the IWT plant, because revenues will be offset by write-offs and other costs

    Iberdrola can afford to make “campaign contributions” to its favorite legislators and lobbyists, such as VPIRG, Wind Works VT, etc

    No wonder, wind turbines are popular with multi-millionaires, the beneficiaries of a huge tax shelter, courtesy of Wall Street and a compliant Congress

    Paid lobbyists and lackeys claim it is about “saving the world”

    I have a bridge………

    WARREN BUFFETT:

    It’s not the demand for more electricity that’s driving construction, but rather the government’s preferential tax treatment and counterintuitive energy mandates. Warren Buffett has admitted as much.

    In 2014 he explained: “I will do anything that is basically covered by the law to reduce Berkshire’s tax rate. We get a tax credit, if we build a lot of wind farms. That’s the only reason to build them. They don’t make sense without the tax credit.”

Your Comments are Welcome

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s