“The PTC is the single most expensive energy subsidy in the federal tax code and is estimated to cost taxpayers about $40 billion from 2018 to 2027.” (IER, January 5, 2021)
“Special government favor to business–crony capitalism–can turn losers into winners. And the loser lobby can claim progress and even inevitability as if they really won. This is the postmodernism of energy policy today in regard to the two politically correct renewables: wind and (on-grid) solar.”
It does not end. What is not competitive and government dependent just continues that way. This is not only because the market picks winners and leaves the losers for politics. It is also because the market-driven, non-subsidized technology improves over time.
Recently, wind power federal Production Tax Credit received its 13th extension. Reported IER:
… Continue ReadingThe U.S.
“Instead of 2-for-1, we eliminated 8 old regulations for every 1 new regulation adopted.”
Yesterday, MasterResource highlighted the energy- and climate-related actions summarized by the Trump Administration itself. Today, we reproduce their highlights regarding deregulation in general.
Make no mistake: there were increasing regulation and restrictions in some areas to counter the deregulation in others, energy included. Note the bullet near the bottom of the list below:
That was to help win some swing states. Same for ethanol subsidies for the Midwest. Politics is politics; you can’t win them all.
What sank Trump–and Trump policies–was the Pandemic itself, not his interventionist policies as argued here. The Pandemic, in Crisis & Leviathan style, reversed the economic boom and led to panicked policy at different levels of government.…
Continue ReadingLast week, MasterResource summarized the energy- and climate-related highlights of the Trump presidency. The Trump Administration itself just released its highlight list, which is presented today for energy and tomorrow for regulation in general.
Some listed accomplishments below, however, are woke:
Perfection can be the enemy of the good, and energy was no exception for Trump. In tomorrow’s list, for example, is this step back: