Another Possible Casuality Of The Democratic Takeover

Otter Tail Corporation ^ | September 11, 2009

[clifcrds]

Otter Tail Power Company Announces Withdrawal From Big Stone II

FERGUS FALLS, Minn., Sept. 11, 2009 (GLOBE NEWSWIRE) -- Otter Tail Power Company today announced its withdrawal -- both as a participating utility and as the project's lead developer -- from Big Stone II, a 500-to-600-megawatt coal-fired power plant proposed for near Milbank, South Dakota, with related transmission upgrades in South Dakota and Minnesota.

According to Otter Tail Power Company President and CEO Chuck MacFarlane, the broad economic downturn coupled with a high level of uncertainty associated with proposed federal climate legislation and existing federal environmental regulation have resulted in challenging credit and equity markets that make proceeding with Big Stone II at this time untenable for Otter Tail's customers and shareholders.

MacFarlane explained that Big Stone II contractual agreements require a commitment to proceed after the project receives all major permits, creating a financial obligation on each party that agrees to go forward. . . "Given the legislative and regulatory uncertainties and current economic conditions, Otter Tail Power Company is unwilling to create a binding financial obligation of approximately $400 million for its share of the project at this time."

Big Stone II had been scheduled to be on line in 2011, and now the plant would not begin operating until late 2015 at the earliest. MacFarlane said that the company no longer could delay the project to obtain greater clarity on -- and to mitigate -- risks unique to Otter Tail. Accordingly, Otter Tail chose to withdraw and allow the others to proceed. . .

While Otter Tail Power Company has invested more than $300 million in wind energy generation during the last three years, MacFarlane added that dispatchable generation remains an important need for Otter Tail Power Company's customers.

[clifcrds]

Put another "W" in the won/loss column for the Tree Hugging Nuclear Hippies. Although it does not say for certain that the coal fired power plant will not be built, it does say that the lead partner and devloper Otter Tail Power is pulling out. This oomes on the heals of two coal fired power plants . . one in Arkansas and one in Utah I believe, that were in the exact same position and decided to pull the plug. And for the same reasons . . . uncertantiy of coming federal regulations and requirments.

Like I told everyone that asked me, this project died on November election day 2008 . . . thanks Obamabots. In the coming winters when it is 30 below zero and there isn't any wind to spin the turbines . . . you can either HOPE for warmer weather or CHANGE into artic survival gear.

[WHBates]

"you can either HOPE for warmer weather or CHANGE into artic survival gear"

I like that, LOL

[TheClintons-STILLAnti-American]

Obama said "you can build coal plants, but we'll bankrupt you with regulation if you do."

Just one of the many indirect ways Obamunism's insidious takeover of society is to be accomplished.

[alloysteel]

Investing in arctic survival gear, and weatherproofing places of domicile against either excessive heat or cold, may be the only practical course of action in view of the impending collapse of civilization, due to the extreme penalties placed upon innovative sources of energy and grasping demands for greater and greater revenue from diminished resources.

I say we all dig into hillsides somewhere, and live in “earth homes” which require an absolute minimum of energy to heat or cool, and which have underground water supply and waste disposal plumbing not subject to freezing even in the most severe of winters.

Of course, we will all kind of end up looking like trolls.

[GloriaJane]

If someone could make burnable pellets from grass clippings maybe that could take the place of coal. Elect. companies could call it recycling and comrade obama and his ilk couldn’t say anything about people trying to go green. I’m sure millions of people would love to get rid of their grass clippings and we could beat obama at his own game. If only....

[I_Like_Spam]

“Uncertainty” is the operative word here.

Since cap-and-tax doesn’t provide any limits as to what the costs will be for this project, its impossible for Otter Tail to even guess if they can make money on this venture.

A carbon tax would be less onerous, as it would at least be able to let the business know how much they would have to charge for electricity to make a profit.

[The Comedian]

Of course, we will all kind of end up looking like trolls.

Uh, excuse me, the correct term is "hobbits", thank you very much.

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Califreak]

50 Dollars and Up Underground House Book

http://www.amazon.co.uk/50-Dollars-Underground-House-Book/dp/0442273118

Worth looking into in today’s economy...