President Orders Chinese Firm To Divest Itself Of Wind Farms in Oregon

First time in 22 years that the president has blocked a legitimate business deal, "they" say. Basis for rejection of the business deal: national security. (It should be noted that Michelle is also on record that obesity is a national security issue which is unrelated but, for some, adds another dimension to the story.)

Citing national security risks, President Barack Obama on Friday blocked a Chinese company from owning four wind farm projects in northern Oregon near a Navy base where the U.S. military flies unmanned drones and electronic-warfare planes on training missions. 

This story has so many story lines, one does not know where to begin.

But this is one of the story lines:

In his decision, Obama ordered Ralls Corp., a company owned by Chinese nationals, to divest its interest in the wind farms it purchased earlier this year near the Naval Weapons Systems Training Facility in Boardman, OR.  Ralls asked for a restraining order and a preliminary injunction to allow construction at the wind farms to continue. 

The firm said it would lose the chance for a $25 million investment tax if the farms were not operable by Dec. 31.

Additional background here.

What little I know about these wind farms is that they are built for tax advantages for larger corporations, and when the tax advantage has run its course, the wind farm is re-sold. Whether or not they eventually turn a profit or not without tax breaks, I do not know.

It will be interesting if anyone steps into buy the Chinese position, especially in light of fact that the tax incentives are not likely to be renewed by the end of the year.

Good, bad, indifferent. It is what it is.