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In Colorado, Ryan to Double Down on Big Oil’s Wish List

FOR IMMEDIATE RELEASE
Contact: Jeff Gohringer, 202-454-4573 or Jeff_Gohringer@lcv.org

14 Aug 2012  

WASHINGTON – Paul Ryan will campaign in Jefferson County, Colorado today where he is expected to talk about anything but his ticket’s opposition to the Production Tax Credit (PTC) for wind energy. The reason? In opposing the renewal of the PTC, the Romney-Ryan ticket stands on the wrong side of Colorado’s voters and local job creators in the wind industry, who all recognize the devastating impact the Romney-Ryan plan would have on job growth and our economy. In fact, the ticket stands against three of Colorado’s four Republican congressmenwho support extending the PTC because it creates new American jobs.

“As renewable energy companies cut jobs, the Romney-Ryan plan for Colorado gives four billion dollars a year in subsidies to oil companies while opposing growing clean, renewable wind energy. They talk of a level playing field but they have their thumbs on the scales for Big Oil,” said Pete Maysmith, Executive Director, Colorado Conservation Voters.

“Paul Ryan’s plan would give Big Oil everything on their wish list and leave Colorado workers holding pink slips,”said Navin Nayak, LCV Senior Vice President for Campaigns.

The Romney-Ryan campaign’s plan to let the PTC expire would have a devastating impact Colorado and across the nation. The American Wind Energy Association has found that in 2011, the wind industry alone supported 4,000-5,000 jobs in the state– many of which would be endangered if the tax credit expires. The Wind Energy Association has estimated that letting the tax credit expire will cost 37,000 jobs nationwide. 

Just like Romney, Ryan opposes tax incentives for renewable energy. Forbes has noted that Ryan is “against renewable energy subsidies,” and has “voted against tax credits for renewable electricity, tax incentives for alternative fuels, investing in homegrown biofuel, and raising automotive CAFÉ standards.” All the while, Ryan has received $244,250 and counting from the oil and gas industry.

While the Romney-Ryan energy agenda would devastate the renewable energy sector, it would be a boon to the oil industry. The Romney-Ryan ticket has advocated ending the PTC while continuing to give billions in taxpayer-funded giveaways to Big Oil. As the Center for American Progress Action Fund recently documented, under the Romney-Ryan tax plan, “The world’s five biggest public oil companies … would keep special tax breaks worth $2.4 billion each year. And by cutting corporate tax rates, the Romney plan could lower the companies’ annual tax bill by another $2.3 billion.”  

In April, the League of Conservation Voters Victory Fund and Priorities USA Action partnered to release a television ad titled “$200 Million Man” to highlight Romney-Ryan ticket’s pledge to protect Big Oil at the expense of middle class Americans. The ad ran on television and online throughout Colorado.

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Paid for by the League of Conservation Voters, www.lcv.org, and not authorized by any candidate or candidate’s committee.



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