Oregon's energy players eye election outcome
By Erik Siemers
Chris Taylor at Element Power said second Obama Administration wouldn't necessarily mean smooth sailing for renewable energy companies.
Columbia Industries CEO Saj Shapiro is Canadian, so he’s not eligible to vote for president.
Yet it will surprise no one that Shapiro — whose Hillsboro company makes oil rig moving systems — is supportive of increased domestic oil exploration.
“I will tell you, whichever candidate increases spending or tax breaks or incentives or opens up regulations for enhancing (oil) exploration will definitely result in more product being built, more drilling rights, and that’s going to directly translate into more jobs right here in our little shop in Hillsboro,” said Shapiro, whose company employs 160 workers.
Both President Barack Obama and former Massachusetts Gov. Mitt Romney are touting all-inclusive energy policies that feature both fossil fuel development and renewable energy, though to varying degrees. Obama is more supportive of renewable energy development than Romney, who has said he supports it only if the technology can survive in the marketplace without federal subsidies.
Here are a few companies that might benefit from both a Romney and Obama victory.
Vestas, the Danish wind-turbine manufacturer whose U.S. operations are in Portland, might benefit from an Obama victory.
The company, which employs 300 here, is already suffering under the uncertainty around the Production Tax Credit, a key financing tool that industry leaders credit for the rise in the nation’s wind energy production. The credit expires at the end of the year. Without a long-term extension, industry advocates say it will be difficult for project developers to attract investment in new wind projects.
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