Let’s look at wind power from an engineering rather than the financial and hedge fund perspective. First, let’s look at data and information available.
The Public Utilities Commission rejected the first Deepwater Wind proposal, saying it was not “commercially reasonable” per Docket 4111. Second, BP, a large oil corporation installed 1,000 wind turbines with 16 big wind projects in the United States and will halt any further development, according to Bloomberg “Businessweek” Aug 12-25. Third, wind turbines – which replace coal in Indiana, West Virginia, Ohio and Maryland – prevent eight times more emissions than Rhode Island, according to Bloomberg “Businessweek,” July 8-14. Fourth, National Grid offered to pay 24.4 cents for the same power for which the consumer now pays 9.7 cents. Ratepayers will be paying $390 million more for electricity, according to the PUC Docket 4111.
Don’t tax credits to the hedge funds result in an increase in my tax bill to pay for government bills?
Based on the minimum information above, I suggest and demand that Mr. Grybowski talk to BP Chief Operating Officer Robert Dudley about the existing 16 projects of 1,000 wind turbines instead of rushing to start his own experiment in the ocean. Ask the CEO why they are halting further development.
I declare Rhode Island is too corrupt to do the right thing and beg all people of influence to speak to our leaders. Deepwater Wind says your bill will increase $1.35; however, it will cost us all $390 million more for electricity.
I do not want to pay for tax credits to hedge fund friend’s profits, favors for friends, nor jobs. Shouldn’t we be experimenting in Indiana, where it does the most good for global warming. Isn’t the global issue warming?
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