It is interesting who owns those renewable energy producers. https://consortiumnews.com/2022/08/11/the-renewables-rush-in… By reviewing the applications and ownership documents, we were able to track who actually builds and owns a large portion of the nation’s renewable energy, when and how those assets change hands, and who ultimately benefits from the tax incentives.
The results might surprise you. The majority of utility-scale solar and wind energy projects in Texas aren’t owned by companies focused on renewable energy – they’re owned by energy companies or utilities that are better known for fossil fuels, including some that have aggressively opposed renewable energy and climate policies in other states and nationally.
So polluters are receiving green energy subsidies. What a sweet deal!
The results might surprise you. The majority of utility-scale solar and wind energy projects in Texas aren’t owned by companies focused on renewable energy – they’re owned by energy companies or utilities that are better known for fossil fuels, including some that have aggressively opposed renewable energy and climate policies in other states and nationally.
So polluters are receiving green energy subsidies. What a sweet deal!
Not really. There just grabbing every subsidy they even remotely qualify for. It’s good capitalism.
But if a middle-class worker gets a $10,000 tax credit to buy overpriced health insurance or an electric vehicle, it’s “beating the system” or socialism.
Like George Orwell said, “Some pigs are more equal than others”. Crony capitalism plays by the same rules.
tjscott The results might surprise you. The majority of utility-scale solar and wind energy projects in Texas aren’t owned by companies focused on renewable energy – they’re owned by energy companies or utilities that are better known for fossil fuels, including some that have aggressively opposed renewable energy and climate policies in other states and nationally.
So polluters are receiving green energy subsidies. What a sweet deal!
Partly.
The REAL story is that Big Energy is retaining control of and PROFITS FROM centralized energy.
And decentralized energy is legislatively discouraged.
Every MBA student learns to classify their business broadly. Exxon would be stupid to characterize itself as an “oil company” but wise to characterize itself as an “energy company.”
It’s the environmentalists who have pounded the drum of renewable energy. Why should they be surprised that a large “energy company” would diversify itself into renewable as well as non-renewable sources? It’s the responsible thing to do.
If the government is offering subsidies management would be remiss to neglect this legal source of revenue.
Nothing sinister about it. Only a bunch of whining from purists who hate the oil companies and want to prevent them from optimizing their business strategy out of spite.
It’s the environmentalists who have pounded the drum of renewable energy. Why should they be surprised that a large “energy company” would diversify itself into renewable as well as non-renewable sources? It’s the responsible thing to do.
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I think its great that fossil fuel companies are investing in renewable energy. That is good for the environment, and they should be rewarded with the same subsidies as non-fossil fuel companies with the understanding that subsidies are proportional to the renewable/clean energy they generate.
The goal is to provide carrots instead of the stick to get companies to convert from fossil energy to non-fossil energy.
Every MBA student learns to classify their business broadly. Exxon would be stupid to characterize itself as an “oil company” but wise to characterize itself as an “energy company.”
Exxon dabbled in fuel from algae which legitimized the field for me and lost me lots of money.
