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Is making it clear he wants to achieve energy independence in large part by developing renewable resources such as wind power but.
Despite new tax credits with the economy in free fall and oil weighed down in cost is the wind industry still viable we're joined now but it Denise bode.
How CEO of the American wind energy association Denise thank you so much for being here.
Nice to be -- -- and so.
When you see why I mean what most of us see oil go down in the forties or that you in the thirties were happy when you see it go down or use add.
-- -- you know we think that wind is viable despite the price of oil and I think the president and congress think it is as well.
We actually believe you talked about the wind we actually think the answer is blowing in the wind.
But again it when when the prices -- four I talked to a guy was into oil sands Madagascar -- oil company.
He's -- it that was when oil was well over a hundred dollars a barrel he said if oil comes down.
To eighty dollars a barrel god forbid he said.
We are no longer a viable company what is the is is there -- break even point similar that for win.
Well not it.
Oil prices -- is as relevant for wind because you know I've said domestic source electric generation what's really critical is the economy.
Because the way the wind at industry works is that we -- the capital markets to help finance.
-- capital intensive construction.
Of these wind farms around the country and we have been growing.
-- by the market using our production tax credits to be able to finance that -- here we grew by 83000.
Which is there's a shattering records it's an all time high were leading new electric generation being added in the country.
But -- the capital markets down that really limits our ability to take the tax credits can't get the cash to be able to put into new.
Generation -- that's part of the reason why.
We've been asking in the stimulus package to have the tax credits that are already in the law to be used to be usable -- -- says that we can continue.
This exponential growth not only -- generation.
But it adding manufacturing.
Jobs here in the US.
Well Denise there's economists from Tufts University Gilbert Metcalf what are obviously his study but he says every dollar wind -- -- is subsidized by the government to the tune of 64 cents.
Do you agree with that figure first of all and if so.
How do you sell it to the American public -- -- and such a large percent of those costs.
Well I guess I I don't agree.
-- the production tax credit that's utilized it's more like two cents and in fact and if you look at every other source of energy -- out there.
And what we are a very good deal because not only once you build though the wind farms.
Although they're expensive to build once you get a bill.
The cops are being fuel is available -- late there's no fuel cost at all and when you look at it compared to other sources.
We -- no water we don't have that -- be carbon issues that others will have to be dealt let you know so.
It is really a wonderful deal to have wind in early and it's adding to our generation.
-- inside their their rapidly but I got -- guy about a place on Cape -- I think you know -- go with us now I'm one of the few residents of Cape Cod.
Who was in favor of that wind farm in Nantucket bay but a lot of people inside the beltway are not what's the status on it.
Well we actually.
That wind farm I am out there is actually.
Gone through some very recent -- In terms of having impact statements that you BM in math and then also some are local statement it is continuing to move forward.
And I think once the residents get out there and realize that the choices.
There to be -- terms of clean energy being provided to them locally vs some of the other choices that are having to be made it's going to be a great deal.
Even you're adding new jobs in that area because last year we added almost.
New manufacturing jobs and seven in new manufacturing facility so it's not just about the generation it to about adding new jobs -- I I I know what you're saying I agree with -- again -- -- on the minority but -- you're working against Ted -- a powerful force there -- Cape -- as you -- up -- you're very kind YouTube you'll probably in this pronounce your last name which is bode.
Not -- thank you very much for not correct me.
But I understand -- right now.
Thanks David and look -- talking to you again about this important new business owner Denise bode thank you so much.
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