Mitt Romney confirms he would end US wind power subsidies

Source: The Guardian

Mitt Romney looks set to declare war on America's wind energy industry, further emphasising the dividing line between the presumptive Republican presidential candidate and President Barack Obama on energy issues.

Romney's campaign confirmed this week he wants to end long-standing tax credits for wind farm projects when the incentives come up for review later this year.

The pledge means the popular production tax credits (PTCs) – which have helped drive a surge in new wind energy investment in the US, making it the second largest wind energy market in the world after China – would be allowed to expire at the end of this year if the Republicans secure the White House in November.

Shawn McCoy, a spokesman for Romney's Iowa campaign, told the Des Moines Register earlier this week that Romney would "allow the wind credit to expire, end the stimulus boondoggles, and create a level playing field on which all sources of energy can compete on their merits".

He added that wind energy would still be allowed to "thrive wherever it is economically competitive, and wherever private sector competitors with far more experience than the president believe the investment will produce results".

Romney's campaign later confirmed he planned to allow the tax credits to lapse, stressing that he favours an energy policy environment where technology-specific incentives are removed.

However, green groups, renewable energy industry insiders, and Democrats were all quick to point out that Romney's desire for a level playing field on energy policy does not extend to oil and gas, where he has pledged to retain up to $40bn of subsidies and tax breaks that President Obama wants to see phased out.

Read more: http://www.guardian.co.uk/environment/2012/aug/02/mitt-romney-end-us-wind-subsidies?INTCMP=SRCH