OK: U.S. Senator Wants to End Renewable Energy Tax Credits

Posted October 9, 2015 at 9:12am

The Tulsa World reports that “A federal tax credit instrumental in the development of Oklahoma’s wind energy sector but irritating to natural gas producers and the coal industry is in U.S. Sen. James Lankford’s sights.”  

“Lankford [introduced] legislation Wednesday to phase out the renewable energy production tax credit over the next 10 years. The credit subsidizes all renewable energy production, including hydro, biomass and geothermal, but has particularly attracted the attention of lawmakers, and especially conservatives, in recent years because of wind power’s growing strength in the marketplace.”  

“’The (production tax credit) was put in place to encourage new innovations and supply our country with diverse energy,’ Lankford said in a written statement. ‘I am a fan of an all-of-the-above energy strategy, and I certainly support wind as a large part of that goal. The wind industry has made major strides over the past two decades, and they have proven their industry to be efficient and self-sustainable. There is no need for the taxpayer to continue to subsidize a wind start-up tax credit.’”