Dec
Oregonians horrified Walmart takes advantage of state energy tax credits
Those tree-hugging Oregonians must have jumped for joy out of their Birkenstocks when their state began handing out tax subsidies for renewable energy projects two years ago. But they’ve now discovered something, horrifying, absolutely horrifying–the Great Satan of companies, Walmart, is taking full advantage of it!
Harry Esteve, of The Oregonian, posting on OregonLive.com, laments:
When Oregon started handing out jumbo tax subsidies for renewable energy projects two years ago, one of the biggest beneficiaries was also one of the world’s richest corporations — Walmart.
No, the retail giant hasn’t branched to solar panels or wind turbines.
Instead, Walmart took advantage of a provision in Oregon’s Business Energy Tax Credit that allows third parties with no ties to the green power industry to buy the credits at a discount and reduce their state income tax bills.
A PSU economics professor sums it up well, and hos conclusion could be applied to just about every one of these ridiculous programs we’ve seen around the world:
“It’s so convoluted,” says Eric Fruits, an adjunct economics professor at Portland State University who has studied Oregon’s energy incentives. “You’ve got all these dollars swirling around. Everyone is trying to grab them as fast as they can.”
We hold out hope that Fruits and other assorted nuts might apply this thinking to national and international cap-and-trade.
Full story: Oregonlive.com.
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Wooopeee…
even if they did it for the wrong reasons, it is one of the best news this year, together with the failure of the Copenhagen meeting.
Seems the alarmists are at the retreat, at least for a short moment.
sorry this comment was meant for the article about the french council.