Toying with Renewables? GE Energy Boss Warns Congress to Knock it Off
Wow, how’s this for “Straight Talk”? (And it’s not coming from the presidential candidates.) GE Energy chief John Krenecki is warning Congress that it better get serious and extend tax credits for renewable energy development … or face the consequences.
And what consequences would those be? In the Environmental Capital blog at the Wall Street Journal, Krenecki says Congress’ foot-dragging is risking a “collapse” of the U.S. wind industry. That could mean not only a major setback in the push for energy independence and the loss of thousands of jobs, but the loss of home-based corporate investments as well.
- » See also: “Stand by Me” in Farsi for the People of Iran
- » Get EcoLocalizer by RSS or sign up by email.
“If the U.S.government is not going to be reliable and predictable [on clean-energy policy], we’ll go to Germany and China,” Krenecki told the WSJ’s Keith Johnson. His comments echo the sentiments of GE CEO Jeff Immelt, who earlier this year told the WSJ, We live today in a certain kind of hell, where nothing happens … If the U.S. doesn’t buy my wind turbines, I’ll go to Turkey.”
The U.S. renewable energy tax credits for investments in wind, solar and other clean-energy projects is set to expire on Dec. 31. Past lapses in the credits have led to significant declines in funding for renewable energy, and one study warns that letting the tax credits die again this time could jeopardize $19 billion worth of projects.
You can read more about Krenecki’s and Immelt’s views here and here.
Related posts:
Nag Congress Now on Renewable Energy Credits
