By The Economist Group
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Extra resources for The Economist - 10 March 2001
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All rights reserved. Wind power Maybe this time Mar 8th 2001 | SEATTLE From The Economist print edition WIND power has long been the Next Big Thing in energy. In the 1980s, tax credits for wind-turbine construction led to the building of thousands of turbines, mainly in California, but to little extra real power. Another tax credit—this time for actually producing electricity, not just making a noise about it—came in 1992. But this too led nowhere much, because of the ever-rising efficiency of fossil-fuel generation and the unexpectedly low prices of those fuels.
Mr Bloomberg has said he would not sell his media company if he became mayor. 4m that the company received last year as an incentive to stay in the city. The other source of unease would be Mr Bloomberg’s use of his own money to fight for office. Alone among possible candidates, he is unlikely to participate in the city’s voluntary campaign-finance system, which he has called “an incumbent-protection programme”. But, unlike Mr Corzine, he has at least promised to publish his tax returns. It would be ironic—and, on reflection, extremely unlikely—if the shopping and financial capital of the world were to balk at a rich businessman buying an election.
The conservative Cato Institute prefers tax credits to vouchers. David Bositis, of the Joint Centre for Political and Economic Studies, points out that the two most important voting blocks in the population—white suburbanites and the elderly—are hostile to vouchers. That explains the movement’s ballot defeats last November in both California and Michigan, as well as George Bush’s current reluctance to push vouchers in education reform. On the other hand, the centre of gravity of the voucher debate is plainly changing.