Harold Hutchison
Daily Caller News Foundation
The Biden administration announced Friday it’s proposing extending a tax credit to boost offshore wind energy projects, according to Politico.
The tax credit proposal is intended to defray rising interest rates and high steel prices that have made offshore wind energy projects more expensive, Politico reported. The Treasury Department clarified that undersea cables that connect wind farms to the power grid are eligible for tax credits due to the Inflation Reduction Act, according to E&E News.
The Treasury Department’s proposal would make the projects eligible for a 6% base credit, and companies could get additional credits for meeting other criteria, including paying “prevailing wages,” locating the projects in certain communities and using domestic materials, E&E News reported.
Orsted, a Danish offshore wind energy company, announced it would terminate two wind farms being built off the coast of New Jersey on Oct. 31 after mounting financial difficulties.
“Macroeconomic factors have changed dramatically over a short period of time, with high inflation, rising interest rates, and supply chain bottlenecks impacting our long-term capital investments,” Orsted Americas CEO David Hardy said about the decision to halt the projects. “As a result, we have no choice but to cease development of Ocean Wind 1 and Ocean Wind 2.”
Other major companies involved in offshore wind production, including Siemens and General Electric, have either announced expectations of losses or have sought emergency funding.
Over $7 billion has been invested in offshore wind projects since President Joe Biden signed the Inflation Reduction Act into law in August 2022, according to the White House, which is seeking to decarbonize the United States economy by 2050.
The Biden administration is also investigating whether offshore wind farms are causing unusual death rates among humpback and right whales reported by the National Oceanic and Atmospheric Administration (NOAA).
An Aug. 29 offshore wind lease sale in the Gulf of Mexico flopped when only one of the three areas drew any bids. The resulting sale could provide enough electricity for 450,000 homes, less than 50% of what the Biden administration had projected all three of the areas could generate.
This story originally was published by the Daily Caller News Foundation.
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IMPORTANT NOTE TO WND READERS: Shortly after Hamas terrorists fired over 5,000 rockets from Gaza into Israel on Oct. 7 and then proceeded to attack the Jewish state by land, sea and air – torturing, burning, beheading and murdering well over a thousand people, including women, children and infants, and wounding and abducting hundreds more – world reaction was, in its own way, almost equally shocking.
For after the biggest one-day mass slaughter of Jews since the Nazi Holocaust, what followed was an outpouring of celebratory demonstrations, unbridled Jew-hatred, deliriously gleeful support for Hamas and bitter condemnation of the nation of Israel. Not just in the Arab-Muslim world, but throughout the Western world as well, including all across America.
Why? What is behind the explosion of anti-Israel, anti-Jewish, pro-terror sentiment in the United States, where Israel has long been one of America’s closest friends and allies? Why are hordes of young “woke” LGBT demonstrators marching in support of Hamas – when Hamas wouldn’t think twice about binding and blindfolding them and throwing them off the roof of a tall building – as they routinely do in the Muslim world?
It turns out there’s one area of agreement that is so powerful, deep-seated and all-consuming that the vast differences between the deranged left and the murderous jihadists melt away into Kumbaya harmony.
All of this and much more is completely exposed in November’s issue of WND’s critically acclaimed monthly Whistleblower magazine, titled ISRAEL VS. GLOBAL JIHAD: How Jew-hatred, radical Islam and Leftism are pushing us toward World War III. Beyond a deeply insightful dive into why leftists are surging toward radical Islam – which hates and dreams of raping and butchering them – this Whistleblower issue includes fantastic articles by everyone from top Israeli analyst (and former Israel Defense Forces officer) Caroline Glick to Harvest Christian Fellowship’s Pastor Greg Laurie on the current war in Israel and biblical prophecies regarding the End Times … which he says are now upon us.
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