Corporate Welfare: Lawmakers pass controversial bill to give tax break to offshore wind developer

July 1, 2023 Mid Atlantic, National

Lawmakers narrowly advanced fast-tracked legislation Friday that would give a Danish company a multimillion-dollar tax break for its offshore wind project, despite objections from Republicans who slammed it as “corporate welfare.” The bill would allow Ørsted, the company approved to build a 1,100-megawatt project 15 miles off the Atlantic City coastline, to keep federal tax credits that otherwise would return to ratepayers. The value of the credit would be $2.40 per year per ratepayer, by Ørsted’s estimate, but the company’s total potential savings is unclear. Critics questioned why legislators should give “a corporate bailout to a foreign company on the backs of New Jersey ratepayers,” as Assemblywoman Vicky Flynn (R-Monmouth) put it. >click to read< 09:25

Assemblyman Brian Rumpf, Assemblyman Lou Greenwald, Assemblywoman Vicky Flynn, give tax break, Gov. Phil Murphy, Lawmakers, New Jersey, offshore wind farms, pass controversial bill, Sen. Ed Durr, Sen. Shirley Turne, Senate President Nicholas Scutari, to offshore wind developer, Ørsted

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The New England groundfish debacle (Part III): who or what is at fault? Nils E. Stolpe/FishNet

It took me a while to decide how to most accurately describe the situation that has been visited upon the New England fishing communities that are and since colonial times have been dependent on the groundfish fisheries.

NILS STOLPE: The New England groundfish debacle (Part IV): Is cutting back harvest really the answer?

While it’s a fact that’s hardly ever acknowledged, the assumption in fisheries management is that if the population of a stock of fish isn’t at some arbitrary level, it’s because of too much fishing. Hence the term “overfished.” Hence the mandated knee jerk reaction of the fisheries managers to not enough fish; cut back on fishing. What of other factors? They don’t count. It’s all about fishing, because fishing is all that the managers can control; it’s their Maslow’s Hammer. When it comes to the oceans it seems as if it’s about all that the industry connected mega-foundations that support the anti-fishing ENGOs with hundreds of millions of dollars a year in “donations” are interested in controlling. Read the article here

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