It was only about 10 months ago that talk of a recession in this country started heating up. But the beginnings of the slowdown in Minnesota can be traced back several years, to a time when the state was adding thousands of jobs a month, and gas was less than $2.50 a gallon.
Minnesota Public Radio News is exploring what the economic slowdown means to Minnesotans.
We invite you to share and discuss your ideas, stories and thoughts about the state of the economy in Minnesota. Let us know the downturn in the economy has impacted you and your family, or if you believe there is even a downturn in progress.
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by
Mike R.
Member since:
November 19, 2007 Minnesota Slowdown
July 15, 2008 05:49 PM EDT
(Updated: July 15, 2008 11:57 PM EDT)
views: 143
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rating: 10/10
(5 votes)
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comments: 10
Tags:
slowdown,
economy,
business,
real estate,
housing,
gas,
minnesota public radio,
minnesota,
politics,
credit
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Comments: 10
Simon Delivers groceries was one of the first to go.
Every municipality that has fire trucks, police cars, snow plows, maintence trucks will be feeling that gas tax increase!
Because the gas tax is so high, people may not be able to contribute to MPR?
How bout that one!
Talk about getting kicked while you are on the ground!
More taxes! During a recession?
$50,000 drinking fountains instead of $6000 drinking fountains!
Times must be good for the City of Minneapolis! What hard times? Aint no hard times here!
The economy is so bad that they were lowering the price on the new I-Phone!
Based on the facts outlined by the federal government's Energy Information Administration, Minnesota spends about 1/2 billion dollars annually on coal to pay for electrical generation. (Minnesota has no coal, so this money flows out of the state.) Back of the napkin calculations show that generating electricity by wind instead of coal would cost 10 billion dollars. (This is the amount needed to build roughly 7,000 turbines.) This is similar to the price of a huge mountain of coal-- a mountain that Minnesota would consume in 20 years, which is the lifespan of a wind generator. Because turbines could be located closer to sources of consumption, it's likely that less power would be lost due to resistance. Currently about half of the power generated by coal is lost to resistance. About 12 plants service the entire state. My calculations do not take into account this aspect of wind generation, but it could provide an additional boon.
We also need to have redundant power generating capacity to run when the wind isn't blowing. Wind doesn't provide us with the peak capacity needed that is reliable.
We also need to run a new power grid to the windmills, so there is cost there.
There will also be many legal fights over running new grid lines across private property.
We will also need more capacity if people start buying more "plug in cars".
Yes, wind power helps us diversify our energy needs and is a part of the solution. But remember, it is only part of the solution.