Income Taxes

12 Months Ended

Dec. 31, 2011

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

10. Income Taxes

The Company has not recognized any income tax provision (benefit) for the years ended December 31, 2011, and 2010 due to continuing losses from operations.

The U.S. statutory federal income tax rate is reconciled to the Company’s effective income tax rate as follows:

	Years Ended December 31,
	2011			2010
Tax benefit at 35% federal statutory rate	$	3,626		$	8,576
State tax benefit, net of federal benefit		52			908
Noncontrolling interest		(584	)		(1,860	)
Valuation allowance		(1,386	)		(7,646	)
Cumulative effect of tax rate adjustments		(1,537	)		—
Other		(171	)		22
	$	—		$	—

The effects of temporary differences and other items that give rise to deferred tax assets and liabilities are presented below (in thousands):

	December 31,
	2011			2010
Deferred tax assets:
Capitalized start up costs	$	3,558		$	3,802
Stock-based compensation		665			493
Net operating loss carryover		67,671			66,007
Other		163			—
Deferred tax asset		72,057			70,302
Valuation allowance		(33,155	)		(31,776	)
Deferred tax liabilities:
Property, plant and equipment		(38,902	)		(38,526	)
Deferred tax liabilities		(38,902	)		(38,526	)
Net deferred tax asset	$	—		$	—

The Company assesses the recoverability of deferred tax assets and the need for a valuation allowance on an ongoing basis. In making this assessment, management considers all available positive and negative evidence to determine whether it is more likely than not that some portion or all of the deferred tax assets will be realized in future periods. This assessment requires significant judgment and estimates involving current and deferred income taxes, tax attributes relating to the interpretation of various tax laws, historical bases of tax attributes associated with certain assets and limitations surrounding the realization of deferred tax assets.

As of December 31, 2011, the net operating loss carryforward was $190 million, which will begin to expire if not used by December 31, 2028. The U.S. federal statute of limitations remains open for our 2006 and subsequent tax years.