Vestas, NEG Micon Stocks Fall as U.S. Energy Legislation Fails, Delaying Wind PTC.

Advanced Materials & Composites News, November, 2003

November 25, 2003 - Stock shares in Denmark's wind turbine Manufacturers, Vestas and NEG Micon, dropped because of forecasts for sales delays when the U.S. energy bill failed to pass Congress on Monday. The stalled $31 billion U.S. energy bill cannot be enacted now until 2004, and with a new Congress in session.

The bill was approved easily last week by the U.S. House of Representatives, but collapsed in the Senate in spite of late lobbying by the Bush administration over the issue of whether oil companies that make gasoline additive MTBE should be protected from water-contamination lawsuits. Legislative analysts expect the bill to pass early in 2004 when Congress returns in January after its end-of-year break, as there is strong support for the overall...

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