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The Biz Bucks Blog provides former Biz Bucks students and other busy professionals with a summary and commentary of seminal articles from the opinion pages of the Wall Street Journal. You can be notified of a new posting by subscribing to the blog (enter email in box on right.)

The Senate is Missing an Opportunity

WSJ 11 November 2017  Big Wind and Tax Reform (editorial)

https://www.wsj.com/articles/big-wind-and-tax-reform-1510358458

In recent times, The Biz Bucks Guy has advocated his "Biz Bucks victims” read two books about the energy industry. One is The Moral Case for Fossil Fuels by Epstein. The other is Fueling Freedom: Exposing the Mad War on Energy by Moore and White. Each book makes the case for stopping the misdirection our politicians have taken us. Moore and White do the math in their last chapter and show how a reasonable development of just Federal lands, with the associated lease payments and increased taxes from energy companies, could pay off the ENTIRE NATIONAL DEBT in ten years. Not to mention the reduced cost of energy and independence from the Middle East.

The Biz Bucks Guy asks, “What are we waiting for?” Can you imagine the improved wellbeing of our country from the elimination of debt service in the national budget?

In the referenced editorial, the WSJ opinion editors share some interesting numbers and thoughts on wind power and your lovely substantial contribution to keeping that industry alive. “In the 1980s wind power was dubbed an “infant industry” that needed federal help to grow. More than three decades and tens of billions of dollars in subsidies later, the business of making electricity from spinning turbines remains inefficient and heavily dependent on federal aid—i.e., the American taxpayer.”  

The editors continue, “It’s common knowledge that current wind-power technology cannot compete in the electricity market and propping it up drains federal coffers. It also removes the incentive to innovate.”

The current discussion on tax reform will surely include the elimination of the federal subsidy for wind turbines. Or not! The house is doing their job. They are trying to reduce the subsidy from 2.4 cents per kilowatt-hour to 1.5 cents, plus uphold a 20% per year ramp down approved into law in 2015. Several billion dollars of savings are at stake. But our illustrious Senate is not going for it. They want to keep the entire subsidy. Why on earth can’t these smart people do the right thing? Wind lobbyists have swarmed them.


A lesson for the day: When you spread out a blanket at a park and have a picnic, you get ants! When you spread out taxpayer’s money in Washington, you get lobbyists!