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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (545594)	1/27/2010 4:38:57 PM
From: Brumar89	1 Recommendation Read Replies (1) of 1573958

Oregon alternative energy boondoggle “primary factor in growing budget deficit” “Reversing course on a policy strongly supported by environmental activists, Oregon Gov. Ted Kulongoski (D) has announced his support for cutting runaway subsidies for wind and solar power projects. … Under a law enacted in 2007, Oregon gives solar power projects up to $20 million apiece in tax credits over the life of the project. Wind power projects are given up to $10 million each. … When the Kulongoski administration proposed the tax credits in 2006, state officials told the legislature the program would cost roughly $1 million per year over its first five years. The program actually cost the state $23 million per year in 2007-09, with rapidly escalating costs likely to put the program’s total cost at $167 million–an average of $35 million per year–by 2011 when the program reaches five years old. The out-of-control subsidies have become a primary factor in the state’s growing budget deficit, which has forced the legislature to raise taxes and cut spending on education and other core programs. … A 2009 series of investigative reports by the Portland Oregonian uncovered evidence state officials deliberately low-balled the expected cost of the tax credits. Documents obtained by the Oregonian under the state’s public records law showed Kulongoski’s staff had determined the program would cost many times more than the $1 million per year price tag the administration reported to the legislature. “There have been many exposés showing that the numbers used to sell the program to the legislature were either cooked or inaccurate,” Lunch said. … [ What? Democrats lie about the cost of their programs? Who could have guessed that. ] In addition to costing far more than advertised, the subsidies have delivered few benefits. Records show millions of dollars have been given to failed companies that produced little or no renewable power.” “Oregon Governor Reverse Course on Renewable Power” [ Do like Obama's people do about jobs "created or saved" - lie about the benefits. ] heliogenic.net

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