End Energy Socialism: Wind Edition
The free market oriented Manhattan Institute has just released a report by Robert Bryce analyzing wind power subsidies. The study offers these lowlights:
On a per-unit-of-energy-produced basis, the PTC [production tax credit] provides a subsidy to the wind industry that is at least 12 times greater than that provided to the oil and gas sector and 6.5 times greater than that provided to the nuclear industry.
If viewed solely as a job-saving measure, a one-year extension of the PTC will cost about $329,000 per job.
The report concludes:
No other segment of the energy sector gets as much preferential treatment as the wind-energy industry. Up until last year, the corn-ethanol industry enjoyed both a mandate and a subsidy. Congress ended the corn-ethanol subsidy, but the industry still enjoys a mandate. The wind-energy sector is lobbying hard in Congress to retain the production tax credit even though more than 220 million people live in states with mandates on renewable-electricity production. The wind industry has had 20 years of subsidies. If it cannot manage to stay in business without subsidies, it doesn't deserve to be in business.
Amen. It's been said time and again here at Reason: let's get rid of all energy subsidies, period.
