Industrial Wind Needs Blowback (Siemens ad campaign targeting U.S. taxpayers)

“Since Siemens’ tax-sheltering market is drying up in Europe, their marketing efforts in the U.S. are clearly geared towards increasing income for its investors via wind’s tax sheltering schemes here. Taxpayers, consumers take note!”

If you watch much mainstream TV, you’ve probably seen Siemens’ recent  multi-million-dollar advertising blitz  to sell the American public on industrial wind.

As it turns out, the wind business abroad has taken a huge hit of late. European countries have begun slashing renewable mandates due to the ever-broadening realization that renewables cost far more than industrial wind proponents have led everyone to believe — not only economically, but environmentally, technically, and civilly as well.

As reported in the article Siemens onshore, offshore pain: “Siemens’ energy business took a €48m hit in the second quarter related to a bearings issue with onshore turbines and a €23m charge due to ongoing offshore grid issues in Germany.”

Since Siemens’ tax-sheltering market is drying up in Europe, their marketing efforts in the U.S. are clearly geared towards increasing income for its investors via wind’s tax sheltering schemes here. Taxpayers, ratepayers beware!

As a company who stands to profit handsomely by it, Siemens ad campaign is obviously part of an overall pitch to urge Congress to extend the very lucrative wind Production Tax Credit (PTC), or more accurately, the “Pork-To-Cronies” bill.

As Warren Buffett recently admitted, “We get tax credits if we build lots of windfarms.  That’s the only reason to build them. They don’t make sense without the tax credit.”

read more : Master Resource,by Mary Kay Barton August 20, 2014

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