Wind Power in the United States - Wind Power: Politics and Policy - page 236

that ample incentive exists for more proactive federal support. Although
history has shown that the central government tends to cede the strategy
for local development to state and private interests, the recent involvement
of the federal government in enabling the Cape Wind project to proceed
indicates a more proactive federal approach may be evolving in regard to
ofshore wind power difusion.
Another issue of concern is the extent to which the federal government
will continue to proactively support the PTC. In 2013, extending the PTC
was delayed, to the detriment of the wind power market 102 and was even-
tually extended only to the end of 2013, when it once again expired. As of
June 2014, eforts to revive the PTC have stalled in the senate. 103 So the
question is whether the Obama administration has fallen back into a reac-
tive strategy for managing the PTC, or whether it will foster a bull market
in the future by reintroducing the PTC. With so much opposition to extend-
ing the PTC every time it comes up for renewal, one also wonders what will
transpire in the lead up to the expiry of the renewable energy production
incentive (REPI) on October 1, 2016.
If the recent past provides any indication of how all of this will play out in the
US wind power sector, it would appear that economic, industrial, and public
interest all point to a rosier outlook regarding the future pace of development.
To a large extent, what transpires in regard to fossil fuel prices and how the
perils attributed to climate change unfold will likely play a major role in inlu-
encing federal government energy strategy. here is little to suggest that fossil
fuel prices are going to return to the low levels seen in the 1990s. Meanwhile,
there is mounting evidence that the perils attributed to climate change will
continue to intensify, fueling public alarm. In short, with or without the PTC,
market momentum is on the side of wind power in the United States.
NOTES
1. As reported on the Huington Post website, September 24, 2012. “John Boehner
Pressured By Conservatives To End Wind Production Tax Credit.” www.huington
post.com/2012/09/24/john-boehner-wind-production-tax-credit_n_1910687. html.
2. Will Oremus. 2012. “he Latest Wedge Issue in the Presidential Campaign: Wind
Power.” he Slate, August 15. www.slate.com/blogs/future_tense/2012/08/15/wind_
power_growing_fast_in_u_s_but_romney_would_end_production_tax_credit.html
3. Exxon. 2011 Summary Annual Report . http://corporate.exxonmobil.com/~/media/
Reports/Summary%20Annual%20Report/2011/news_pub_sar2011.pdf.
4. Peabody Energy Annual Report 2012 . http://www.peabodyenergy.com/mm/iles/
Investors/Annual-Reports/PE-AR2012.pdf
5. Greene, David and Sanjana Ahmad. 2005. Costs of U.S. Oil Dependence: 2005
Update (January, 2005) . Report to the US DOE, ORNL/TM-2005/45. Washington,
DC: Department of Energy.