Both of you have claimed support for renewable energy. And, in case you haven't heard, Senator Reid is going to hold a vote this week on an extension of renewable energy tax credits.
This is really interesting because in Arizona, Senator McCain's home state, the Solana solar plant people say the tax credits are necessary to make the project economically viable.
In case you don't remember, in June — with three Democrats (Obama, Clinton, and Kennedy) and McCain absent, a vote on the tax credits fell seven votes short of the 60 needed.
Of course, the Spanish company planning to develop the Arizona solar plant, Abengoa, says they would have to take it overseas. “We’re looking at other places around the world,” said Fred Morse, senior adviser to Abengoa’s U.S. branch, citing projects the firm is considering in Spain, Morocco and Algeria. (I'm wondering why U.S. companies such as Halliburton, Lockheed Martin, etc. are not pursuing these projects?)
The renewable energy tax credits are scheduled to expire at the end of the year, dealing a devastating blow to the renewable energy industry just as politicians on both sides of the aisle cite the need for it as a solution to America’s energy woes.
“The fate of Solana is in the hands of the investment tax credit,” said Steven Gotfried, a spokesman for Arizona Public Service. “With that investment tax credit, a future with renewable energy becomes a reality. And without it, it puts it in jeopardy.”
Gotfried said that beyond the benefits of green, renewable energy, the billion-dollar investment in Solana would create 1,500 construction jobs and 85 permanent, highly skilled positions. The project would be built and owned by Abengoa Solar. The Arizona utility would purchase energy from the Spanish engineering firm; Abengoa estimates that the nearly 2,000-acre plant could sell $4 billion worth of energy over 30 years.
“If built today, this will be the single largest solar power plant in the world,” said Morse. “Without a year extension of the [tax credit], the Solana project can’t be built because the financing won’t be made viable because the numbers won’t work.” With the credit, officials said that the numbers do work.
“With the tax credit and the technology Solana will be using, concentrated solar power [becomes] very competitive and a viable option when you compare it to natural gas,” Gotfried said.
FYI, McCain has missed nearly 400 votes in the 110th Congress. What has he been doing?
Senator McCain, you've spoken favorably about solar power and you've lamented that there is not enough of it. So, will you walk the talk or just keep on talking the talk? Can you stand up for what's best for America and not be controlled by big oil money?
(see http://thebestmoneyguy.blogspot.com/2008/07/flip-flop-oil-drops.html)
Senators McCain and Obama, this is an opportunity for both of you to stand side by side for America. Will you put America first and drop the partisan stupidity?
The Best Money Guy
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