Ron DeSantis on Energy & Oil
Excerpts from letter to House leadership:
"We offer our full support for allowing the most anti-competitive and economically harmful tax provisions, specifically the wind energy production tax credit (PTC), to expire. Extending the wind PTC is a key priority for the Obama Administration and its efforts to prop up wind and other favored "green energy" technologies. Under President Obama, federal subsidies for wind have grown from $476 million per year when he first took office to $4.98 billion per year today. A one-year extension of the wind PTC would cost American taxpayers over $13.35 billion. [which] has caused significant price distortions in wholesale electricity markets.
"The value of the Wind PTC today it is worth 2.3 cents per kilowatt hour produced. A wind project that "begins construction" in 2013 could receive subsidies until 2026. By ending this program now we will have given the wind industry a more than generous phase-out for a credit that is being awarded to a mature technology with over 61,100 megawatts of generation installed across the country and 13,400 megawatts under development in 21 states. Over 43% of all electric generation nameplate capacity additions in 2012 were from wind, overtaking natural-gas fired generation as the leading source of new power generation."
OnTheIssues note: The wind PTC subsidy will likely stay in place as long as Obama is president. In general, Democrats support alternative energy credits such as the PTC (which also applies to biomass and geothermal energy), although some Democrats from coal states or oil states oppose the PTC. The Republican signatories of this letter complain about the $5B annual subsidy for renewable energy--but they ignore fossil fuels subsidies including: $3B for fossil fuel tax subsidy; $1B for fossil energy R&D; and a $7B annual subsidy for oil & gas exploration.
Congressional Summary: House amendment to H.R. 5538, the Interior & Environment Agencies Appropriations bill for FY 2017. This amendment would prohibit funds to be used to research, investigate, or study offshore drilling in the Eastern Gulf of Mexico Planning Area of the Outer Continental Shelf (OCS).
Heritage Foundation recommends voting NO: (7/13/2016): The Gulf of Mexico continues to be a very important asset for our energy future and it continues to produce significant amounts of oil and natural gas. Yet the Eastern Gulf of Mexico has not participated to this point despite its significant potential. A 2014 Heritage Foundation report said: "Excessive regulations and bureaucratic inefficiencies have stymied oil production and prevented the full effects of the energy boom." This amendment would block any potential progress that could take place by preventing the necessary work that would need to be prepared in the East Gulf for potential lease sales and eventual production.
Sierra Club recommends voting YES: (1/12/1974): The Sierra Club believes that no offshore petroleum exploration should occur unless and until the following conditions are met:
Legislative outcome: Failed House 185 to 243 (no Senate vote).