Koch Rep. Mike Pompeo (R-KS) — who is deeply indebted to Koch Industries for more than $100,000 in donations — is outspoken against clean energy investment. Recently, he celebrated when the Senate failed to extend the wind energy tax credit in a 49-49 vote. However, he is celebrating the threat to 37,000 jobs in the relatively young industry, when the production tax credit is set to expire at the end of the year.
Even as the oil industry enjoys $4 billion in subsidies a year, Pompeo lamented the cost of the production tax credit, claiming the wind industry would be fine on its own:
“The program has been around an awfully long time and it’s time to let that industry stand on its own two feet. And I’m confident that they’ll do it,” he said. “There’s great, creative engineers and innovators in the alternative energy field, and I’m confident they’ll be successful.”
It now costs the government more than $1 billion a year to hand out 2.2 cents per kilowatt-hour of wind power — and enough is enough, says Rep. Mike Pompeo (R-Kan.).
“We’ve been subsidizing some of these industries with tax credits for multiple decades, and every time they get to the end of the line, they get within a year, they say, ‘If you just give me’ — fill in the blank — ‘one more year, four more years, that’s all I want. Just a little more time,’” said Pompeo, who is leading a charge against the PTC and other energy subsidies.
“What history would demonstrate is they would continue to come back to the federal trough and ask for more time yet again at the end,” he added.
History has shown that the three times the production tax credit expired, wind investments dropped. Meanwhile, Big Oil has benefited from 100 years of consistent tax breaks, even though the industry had a record-high year of $137 billion profits. And Pompeo, who benefits from these profits, has made clean energy his punching bag.