Big blow to wind power?
Taxpayer-funded subsidies set to expire
- Duration 7:18
- Date Dec 29, 2012
Taxpayer-funded subsidies set to expire
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-- just about everyone try to stop all those tax cuts for expired but there is one thing the force folks say.
We should let expire on January 1.
Billions of dollars in subsidies for wind energy.
-- -- -- But they blow up energy prices are everybody I'm David has been happy new year welcome to work on fox let's go and focus witness Steve Forbes so Elizabeth MacDonald Greg -- Johns candy bill ball and and Morgan -- so Steve has a paid off.
No it's not paid off their subsidies proportionate eighteen times that of nuclear energy which is more than all the other forms of energy.
They've been doing this for twenty years it's not worked Ronald Reagan was right the closest thing to immortality and in this earth -- a government program.
But politicians love win because they're full of hot air so -- -- this section gone with the wind.
All right Greg Conger and we have spent 24 billion dollars subsidizing wind energy -- -- since he -- in the station began in 92 hasn't been worth it.
Like -- -- very early in this in this process when nobody ever wants to talk about as we've been subsidizing oil.
Call gas we've been doing those subsidies for darn near centuries so if you take a look at those figures are compared to these figures these don't -- -- battle with some look like it or not.
The majority of Americans believe that global warming is an issue.
And if it is indeed an issue we need to be spending money to develop clean energy sources.
Fossil fuels may turn out to be a bigger problem than we think.
We have to continue this -- -- -- John Candy the fact is we are subsidized -- of things but but they are getting cheaper it's getting cheaper to produce energy from natural gas.
It's it's not getting that much cheaper to produce it from wind power and look at the subsidies by the way specifically we spent 52 dollars per one million watt hours subsidizing.
For nuclear power only three dollars compared to 52 dollars and look at natural gas there.
63 cents compared to fifty -- dollars that doesn't look like a pay off committee.
Yeah unsurprisingly and that the disagree with the Rick here the reality is the last time wind energy had any relevant economic impact was in the thirteenth century.
We move well beyond that into things like oil and natural gas that the markets actually want.
There's one thing I do you agree with a -- is let's get rid of subsidies for all forms of energy let's let them sink or swim in the case of wind energy.
It will it will certainly sink and will be better off for it.
And bill Bob what is almost entirely dependent on federal subsidies natural gas but what the private sector has done because of natural gas with -- the costs of -- -- down not so with wind energy we're still pouring billions into it.
I think for politicians addicted to green stuff.
That wind farms -- be -- kind of up methadone clinic.
And another words let's let's reenact the two cent per kwh subsidy for a win but as part of the bargain.
-- get America off a far more dangerous drug which is -- -- and all that stuff.
Damages the environment -- food shoppers and turns up the inside your engine -- -- Mac two wrongs filmmaker right now today.
Now and I think -- John ten who is referring to when he referred to the thirteenth century.
I think it was referred to Windmills in places like Norway and now we are we are tilting at Windmills and -- we are tilting at Windmills with the wind sector and what's happening is.
The wind sector really took off in seven night in Norway and in Denmark.
And what happened was well at the same time Gerald Ford and Carter were pushing shale gas development and get -- -- That became economically viable look when you have tax subsidies that are about 50%.
Of what is going on and wind energy equals forty nordic 50% of the -- best first is about when he netted -- 50% of oil got a city itself.
Are we making these companies economically not profitable.
Or if we're if they're not economically profitable than they should be just killed off otherwise you're just -- the profits and the lobbyists.
Over -- for the wind ending.
Energy now Morgan we have tried tried tried to talk -- out of subsidies for solar energy we have failed you still like solar energy what about wind energy.
I idea so I solar energy to the press the price and that is starting to come down but wind energy SA led at laps Billy took the words right out of my mouth let's slash and burn corn ethanol subsidies -- had it doesn't -- the numbers it's slightly different way going back to the cost of subsidies for wind it's about eight.
Higher than the cost of natural gas for the same amount of electrical output.
I mean that right there tells you that is is not at my lowest.
Got behind shale oil back when it wasn't economically feasible today.
It's usually economical the economic -- -- -- why not the same thing.
More now on the week -- -- -- the iron long of government subsidies and what happens is it's I love that -- Is that they exist that the political whim of lobbyists and local -- yeah.
-- says there there -- two things here that to what to Ford and Carter did was zilch for that it was an entrepreneur George Mitchell who made fracking possible years later.
And in terms of wind power while the greens -- -- they're the biggest were butchers around Australians are guilty -- here I care about wildlife he can't -- -- -- have went our jobs candy go ahead at the.
Yeah absolutely it's it's amazing that we're having this discussion.
This this never worked in the past and -- if if if if markets can't support wind energy there's no reason that we should subsidized at the expense of taxpayers who -- hurting right now.
And bill we haven't hard drive is the overall factor would try to cut this expensive government win -- -- and exactly the opposite is not a perfect example of where we can afford to cut a program.
That despite paying billions hasn't paid off OK it hasn't paid all -- is trying to deal with a congressional addiction to green stuff.
I -- if he had somehow.
I wanna do it this way if the least harmful way except for a couple -- Eagles get a you'll ever there's really fixed their green addiction is -- dollars in -- spending trillions of that so well let's start to think thinking about it.
And I don't blame -- a big companies the wind energy I mean the big players like Siemens and GE.
No where to get the -- tax breaks and that's what these guys have been.
Willing and -- -- -- -- against corporate welfare that is such a big part of this that if if you Margie or other companies that love to -- to kiss up to the government this is a perfect way to do it -- -- that argument holds a great deal more water if you are cutting subsidies for everybody you can't come to this discussion -- I can't -- and well and giving brilliant I think yeah and I think that judge Janet.
I had done -- -- -- an eye -- are you industrial policy absolutely cut subsidies for everything let them succeed in the market or -- and.
-- -- -- -- I'm actually you know what I am for subsidies for renewable energy but let it be cost effective renewable energy wind is not a dollar could be -- yourself -- -- -- -- yeah.
Interesting to not singling out there.
And wind is not one of them.
And it is a contradiction in terms as I look at the -- -- -- though Erica we speak -- -- absolutely half a trillion dollars on that.
Billions of -- dollars being wasted.
Again let free people determine what kind of energy that government's picking winners not winners the government's picking losers.
Right coming up next hour or.