> Warren Buffett Blog: Wind farms in Iowa great for everyone

Wednesday, December 7, 2016

Wind farms in Iowa great for everyone

Iowa is the Saudi Arabia of wind. And it’s enabled us to keep prices very low. It’s also brought in lots of industry to Iowa because the high-tech companies, particularly in the server farm business, which uses a lot of electricity, they not only like the low price, but they also like the idea of using wind energy.

Society has made an intelligent investment. Investment in wind wouldn’t have gone forward in virtually all cases, unless there was the tax credit involved. So the government has said, “We are willing to forego a certain amount of tax receipts in order to foster wind, and solar as well.”

It’s a government-induced result, which I think makes sense for society and makes sense for our consumers, and it makes sense for Berkshire as an investor.