Test case: what happens when a government requires renewable energy?

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It's pioneers like Colorado that will finally propel us into the 21st century. Great news! Love it when the old ways are trounced by new tech AND soundly at that!

"Despite a continuing boom, oil and gas companies here are on the defensive. They are spending heavily as they try to prevent the repeal of as much as $300 million in annual tax breaks that would be shifted to investment in renewables and other projects."

Might be better to get with the times and move forward instead of fighting the inevitable.

"Colorado's growing political and economic commitment to renewables is causing fear in the oil and gas industry, which is fighting to keep its tax breaks and its influence over state rulemaking."

And once they lose them then the real cost of oil and gas will be made apparent and the consumer will be hurt... which of course will drive the renewable market even faster!

""We're not feeling very cherished," said Collins, whose oil and gas association represents more than 30 companies. The group objects to an initiative on the ballot in November; it would eliminate the industry's 87.5 percent property tax exemption, estimated to cost the state treasury $230 million to $320 million a year."

That's money that could have gone to research, transmission upgrades and a whole slew of other programs that would have benefited the tax payers. Oh cry me a river...

"If the ballot rule passes, the tax money will be channeled to renewable fuels, wildlife conservation and education. The industry also objects to proposed rules that would require greater public health and environmental protection in areas where drilling takes place."

Where the money should have been in the first place.

Posted by: Linux User 147560   Posted on: 08/18/08 You are currently: a Guest | Members login | Terms of Use

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