Dennis Daugaard on Energy & Oil



Explore our potential for oil development

Another good example of our leaders working together has been in the area of oil and gas. This year I convened two work groups, and I know the Legislature did likewise. The first to explore our potential for oil development, and the second to examine the areas where preparation may be needed in response to development in South Dakota and in North Dakota. At the same time, the Legislature formed an interim committee to study potential legislation to deal with these important issues. Although our oil and gas production may not reach the level of our friends in North Dakota, the work of the Legislature, the Department of Environment and Natural Resources, and others will put South Dakota in a better position to capitalize on our potential. If we can't pull oil out of our ground, let's help North Dakota do so with services and products in South Dakota.
Source: South Dakota 2013 State of the State Address , Jan 8, 2013

Increase ethanol revolving fund from $7M to $17M

An economic development goal is to revamp the Revolving Economic Development Initiative or "REDI" Fund. An important first step is to increase the total value of the fund. I'm proud to announce today an innovative and forward-thinking partnership with our state's ethanol industry that will refocus state ethanol incentives and provide an extra $10 million for the REDI Fund over the next five years. Currently, our state provides $7 million a year in incentives to ethanol plants operating in South Dakota
Source: 2011 South Dakota State of the State Address , Jan 11, 2011

Wind & ethanol instead of cap-and-trade

The answer to our nation's long-term energy needs is not a "cap-and-trade" program that would put significant new energy costs on South Dakota's families and businesses. The answer is clean, renewable energy--and that should be a major priority for South Dakota. It's good for farmers, it's good for the environment, and it's good for the state's economy. Our state must do everything we can to advance the development of renewable energy sources like wind and ethanol.
Source: 2010 Gubernatorial campaign website daugaardforgovernor.com , Nov 2, 2010

Letter to Congress supporting renewable energy tax credit.

Daugaard signed American Renewable Energy Production Tax Credit Extension

Congressional Summary:Amends the Internal Revenue Code to extend through 2016 the tax credit for electricity produced from wind, biomass, geothermal or solar energy, landfill gas, trash, hydropower, and marine and hydrokinetic renewable energy facilities.

Proponent's Comments (Governor's Wind Energy Coalition letter of Nov. 15, 2011 signed by 23 governors):Although the tax credit for wind energy has long enjoyed bipartisan support, it is scheduled to expire on Dec. 31, 2012. Wind-related manufacturing is beginning to slow in our states because the credit has not yet been extended. If Congress pursues a last minute approach to the extension, the anticipated interruption of the credit's benefits will result in a significant loss of high-paying jobs in a growing sector of the economy. We strongly urge Congress to adopt a more consistent and longer-term federal tax policy to support wind energy development, such as H.R. 3307.

The leading wind project developers and manufacturers are slowing their plans for 2013 and beyond due to the current uncertainty. The ripple effect of this slow down means reduced orders for turbines and decreased business for the hundreds of manufacturers who have entered the wind industry in our states. When Congress allowed the tax credit to expire in 1999, 2001, and 2003, the development of new wind installations dropped significantly, between 73% and 93%, and thousands of jobs were lost. Providing renewable energy tax credits in order to provide consistency with conventional energy tax credits is the right policy to move the nation forward in an energy sector that offers global export opportunities and the ability to modernize a segment of our electric production infrastructure.

Source: H.R.3307 11-H3307 on Nov 2, 2011

Other governors on Energy & Oil: Dennis Daugaard on other issues:

SD Senatorial:
Gordon Howie
Larry Pressler
Mike Rounds
Rick Weiland

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