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Governors' Wind Energy Coalition

December 8, 2017

Energy pressures mount on tax bill conferees

Geof Koss, E&E News reporter  •    •  Posted 2017-12-08 06:48:46

“This is not just wind and solar, it’s refined coal, there’s a number of businesses very concerned about this and a number of jobs at stake,” he told E&E News yesterday. “We’ll continue to work with the conferees on it.” Efforts to fix the BEAT section come as Republicans are weighing whether to raise the corporate rate to 22 percent from 20 percent — a possibility that is meeting with strong pushback from outside conservative groups, such as the Club for Growth. [ read more … ]

Renewable Energy Is Surging. The G.O.P. Tax Bill Could Curtail That.

By BRAD PLUMER and JIM TANKERSLEY, New York Times  •    •  Posted 2017-12-08 06:49:04

Wind and solar are two of the fastest-growing sources of power in the country, providing 7 percent of electricity last year. Sharp declines in the cost of wind turbines and photovoltaic panels, coupled with generous tax credits that can offset at least 30 percent of project costs, have made new wind and solar even cheaper than running existing fossil-fuel plants in parts of the country. In different ways, direct and indirect, the House and Senate bills each imperil elements of that ascension. A Senate bill provision intended to stop multinational companies from shifting profits overseas could unexpectedly cripple a key financing tool used by the renewable energy industry, particularly solar, by eroding the value of tax credits that banks and other financial institutions buy from energy companies. [ read more … ]

Op-Ed: Clean Energy Advocates: Tell Congress to Stop BEATing Up on Renewables

By Ernie Shea, 25×25  •    •  Posted 2017-12-08 06:50:51

For all of the bipartisan goodwill that was on display at the end of 2015 when Congress reauthorized and extended multiple tax credits for renewable energy technologies, it is disappointing to now see so many lawmakers willing to renege on those agreements. [ read more … ]

‘Everything is melting’ — Alaskans plead for help

Scott Waldman, E&E News reporter  •    •  Posted 2017-12-08 06:50:35

In Washington, where some lawmakers, the president and a number of his Cabinet members question whether humans are the primary drivers of climate change, Newtok represents the human cost of inaction. Its residents are among the first climate refugees in America. Across town, just in front of the Capitol, a group of Arctic residents and their supporters held a rally opposing the GOP tax bill, which could open up the Arctic National Wildlife Refuge refuge to oil drilling. [ read more … ]

Molded Fiber Glass South Dakota will close its doors in February 2018

By Kayleigh Schmidt, KSFY  •    •  Posted 2017-12-08 06:51:14

Less than a year after announcing layoffs, Molded Fiber Glass (MFG) says it’s shutting down the entire facility. This will leave more than 400 people without a job. MFG announced plans this morning to close its doors in February next year. MFG South Dakota broke ground back in 2007 and is the company’s wind blade manufacturing plant. The closure, according to Senior Vice President David Giovannini, is the result of changes in market conditions. [ read more … ]

GE’s 12,000 Job Cuts Highlight Uneasy Shift to Renewable Energy

By Rick Clough, Bloomberg  •    •  Posted 2017-12-08 06:51:31

After spending years building up its gas-power business, General Electric Co. is trying to figure out how to keep pace in a world that’s no longer all that interested in fossil fuels. The plan to cut 12,000 jobs, or almost one-fifth of the power division’s global workforce, underscores GE’s bad bet on an old-school industry as natural gas loses favor and renewable energy gains. The company’s $10 billion deal to buy Alstom SA’s assets two years ago has compounded the pain. [ read more … ]

After Decades of Hints, Buffett’s Heir May Now Be More Apparent

By Noah Buhayar, Bloomberg  •    •  Posted 2017-12-08 06:51:51

“If I die tonight, I think the stock would go up tomorrow.” That’s Warren Buffett, addressing an arena full of shareholders at Berkshire Hathaway Inc.’s annual meeting in Omaha in May. For more than half a century, he’s made the company his investing canvas, designing an unlikely conglomerate. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.