But I suppose that one man’s pork is another man’s passion, to paraphrase most terribly. And in the case of this bill, tax credits for renewable energy were … renewed. And unlike several other add-on’s, this one makes sense, in context.
In particular, the effects of the financial crisis on green energy products is pretty much a bad thing, as far as I can see. Adam Stein of TerraPass wrote a good piece on impacts on clean energy several weeks ago.
As we’re (finally) getting more serious about alternative energy, the size of projects is getting bigger, and bigger (and the biggest). These are capital intensive projects: in other words, lots of investment is required. That’s not a good kind of project to be involved in when capital is not flowing and investments are being made in T-Bills and gold.
So even though it’s straight-up pork, I am pleased that the Senate, then House has added these credits to our budget. At leat this is money well spent (unlike the other $700B which is just paying back money ill-spent).