THE WALL STREET JOURNAL/DOW JONES NEWSWIRES: UPDATE: Tax Bill Approval Means Boost For Wind Energy Cos
“The tax credit should also push forward projects sponsored by companies like Shell Wind Energy, which is owned by Royal Dutch/Shell Group”
DOW JONES NEWSWIRES
Posted 24 September 2004
By Maya Jackson Randall
WASHINGTON — Approval of a multi-billion dollar tax bill is likely to boost the development of wind power projects sponsored by companies such as Florida Power & Light (FPL).
Several utilities invested in wind energy projects in 2003 but this year placed those projects on hold until legislators agreed to extend a federal tax credit for wind energy production.
A provision reauthorizing the expiring credit is part of the $146 billion tax bill, poised for approval in the House and Senate on Thursday.
“A number of projects are likely to take place if the production tax credits are approved,” said Standard and Poor’s credit analyst Terry Pratt. “That credit helps to make these projects more economically attractive.”
Florida Power & Light subsidiary FPL Energy is the largest owner of wind plants in the U.S. and likely to benefit from the provision, said Pratt.
The same goes for Iowa utility MidAmerican Energy Co., which has a $323-million wind power project on hold, he said.
Pratt also noted that Danish turbine suppliers Vestas and NEG Micon would also benefit. “Any expansion of the U.S. market is definitely good for them,” he said. The tax credit should also push forward projects sponsored by companies like Shell Wind Energy, which is owned by Royal Dutch/Shell Group (RD,SC), and American Electric Power (AEP), said American Wind Energy Association spokeswoman Kathy Belyeu.
“Really, all wind power companies stand to benefit,” she said.
Aside from the tax credit for wind energy production, the tax bill extends a variety of individual tax breaks, such as the $1,000 per child tax credit.
The bill also includes a one-year extension of nearly two-dozen corporate tax breaks, which carry a $13 billion price tag over the next decade.
Other elements include a tax credit for qualified electric vehicles, worth $5 million through 2014 and deduction for clean-fuel vehicles, worth $72 million.
Other energy related breaks include extension of the taxable income limit on percentage depletion for oil and natural gas produced from marginal wells. This would cost $94 million through 2014.
Still, for the energy industry, the most significant is the extension of the tax credit to produce electricity from wind and burning of farm waste such as poultry litter. The one-year extension of the tax break would cost $1.2 billion through 2014, according to Congress’ Joint Committee on Taxation.
-By Maya Jackson Randall, Dow Jones Newswires; 202-862-9263; [email protected]
This website and sisters royaldutchshellplc.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
