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Fraud and Mismanagement Should Be Red Flag for City Funding of Credit Union

The Minneapolis Star Tribune editorial board had a great opinion piece last week investigating allegations of fraud and mismanagement for a new credit union designed to promote economic opportunities for African-Americans in North Minneapolis. According to the Strib: "In one of the worst scenarios that a financial institution can face, a startup north Minneapolis credit union is embroiled in allegations of fraud and mismanagement. Two top leaders of Village Financial Cooperative were terminated in August for alleged financial misconduct. Both deny the charges and have countered with allegations that they were fired because of racial discrimination. Village Financial is an African-American-led credit union sponsored...

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Expiring Subsidies, Not Free Markets, Driving Minnesota Solar Growth

Renewable energy advocates often claim that business is booming for the solar industry in Minnesota, and this is true. However, in order to determine whether this is a good or bad thing for Minnesota residents, it is important to understand why this is the case. A recent article suggests the recent demand in solar development is happening because people want to cash in on the federal solar subsidies before the tax credits taper off over the next five years. According to an article in the Rochester Post Bulletin: "When Steve and Dawn Finnie opened Little Thistle Brewing Co., they had long-term plans...

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Wind Subsidies for Xcel Energy’s Minnesota Operations Totaled More Than $49 Million in 2016

According to data found in utility documents filed with the Minnesota Public Utilities Commission, Xcel Energy earned $49.3 million in federal subsidies in 2016 from its wind facilities located throughout Minnesota and North Dakota. It's important to remember that the cost of wind energy in Minnesota is not just reflected in your monthly electric bill, but it also increases the amount of federal taxes you must pay. While $49 million is no doubt a significant chuck of change, it likely represents only a small amount of the federal subsidies doled out to wind producers in Minnesota because most of the wind...

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