Renewable energy is a cash grab for environmentalists.
The multitrillion-dollar tax breaks package passed by House Republicans early Thursday would gut clean energy tax credits that Democrats approved three years ago while supporting increased mining, drilling and other traditional energy production.
A marathon session that began Wednesday resulted in 1,100-plus page legislation that curbs billions of dollars in spending across food assistance, student loans, Medicaid and action to address climate change.
The bill, which now heads to the Senate, repeals or phases out more quickly clean energy tax credits passed in the 2022 Inflation Reduction Act during former President Joe Biden’s term. Biden’s climate law has been considered monumental for the clean energy transition, but the House bill effectively renders moot much of the law’s incentives for renewable energy such as wind and solar power.
While hydrogen projects were largely spared, the Senate bill also aims to eliminate tax credits for electric vehicles. Initially, Republicans proposed ending the credit 180 days after the bill’s enactment, but the revised version would terminate it by September’s end.
Key provisions, such as support for nuclear and geothermal industries and the option for project developers to transfer tax credits to third parties, remain unchanged.
Spain and Portugal’s experience with renewables is proof that wind and solar are not adequate to provide for our energy needs. Geothermal and hydrogen maybe, but the jury is still out. Even electric vehicles were shown to be a product consumers didn’t want despite Biden and Kamala Harris pushing them. Thankfully, nuclear power is getting support too.
In addition to being a cash grab, renewable energy is nothing more than a massive fraud and at best window dressing for environmentalists who ultimately want to lights of the West to go out. Gotta get the money before doomsday!