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10/01/12 8:05 PM

#69928 RE: langlui #69925

Chinese Company Sues Obama Over Wind Farm Shutdown
In the current political environment, with Obama being attacked for being too weak on China, the decision smacks of politics. It also feels like tit-for-tat: China's government has prevented many American companies from aggressively pursuing projects in China, and complaints about China's brazen theft of U.S. intellectual property are widespread.

The four sites, acquired by Ralls earlier in the year, are inside or within five miles of airspace used by the US navy to test drones and train for electronic warfare.

Ralls argues that there are "scores" of other wind turbines already operating in the area.

It said: "The selective and arbitrary singling out of Ralls' project drives our effort to seek redress in US courts . . . We are confident that the courts will vindicate Ralls's rights under the law and the constitution and we intend to pursue the remedies that the law makes available."

However, Natalie Wyeth Earnest, a spokeswoman for the Treasury department, said: "They could try to pursue a lawsuit, but the Cfius statute clearly states that the president's actions are not subject to judicial review."

The company is facing losses on the investment it has made in the project, and on the production tax credit for wind power, potentially worth $25m, which is scheduled to expire and will be available only to projects supplying power to the grid by the end of the year.

http://edition.cnn.com/2012/09/30/business/china-wind-farm-obama/index.html