“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions … adaptation to the unknown can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account.”
– F. A. Hayek, The Fatal Conceit: The Errors of Socialism (1988), p. 76
Whenever the U.S. Environmental Protection Agency (EPA) is confronted with evidence that its proposed regulations will kill jobs, risk blackouts, or otherwise harm economic growth, it typically seeks refuge in its own estimates of the amazing public health benefits the proposal will have.…
Continue ReadingDear Honorable Mark R. Warner:
I have great respect for your knowledge of information technology. But, with all due respect, sir, your May 24, 2012, response to my request that you oppose extension of the federal Production Tax Credit (PTC) shows a serious lack of understanding of wind energy, energy markets, and energy research & development.
The people of [your] Virginia are fortunate that the Menendez bill (S.2204) failed. Your support for that bill was ill-advised and contrary to the interests of Virginia’s taxpayers and energy users.
You appear not to understand that the wind PTC, a tax shelter, results in shifting tax burden from “wind farm” owners and developers to ordinary tax payers and/or results in more debt that will have to be paid by our children and grandchildren. Furthermore, “wind farms” are being built primarily because of the Production Tax Credit, NOT because of their true environmental, energy or economic benefits.…
Continue Reading“The state’s Public Utility Commission, or PUC, approved the CREZ concept in 2008 in response to a directive [mandate] from the [Texas] Legislature in 2005.”
– Kate Galbraith, “Texas’ Wind Transmission Project Keeps Rolling,” The Texas Tribune, September 8, 2010
“Lt. Governor David Dewhurst was the largest recipient of [CREZ] contractor funds with $419,250 from January 2005 through February 2010. …. The CREZ project has turned out to be a money-making opportunity for many politicians and companies.”
– Dan Byfield, “The Politics of Transmission Lines.” San Angelo Standard Times, June 29, 2010.
A political fight of national import is on in Texas for the U.S. Senate between Tea Party favorite Ted Cruz and Republican-establishment favorite David Dewhurst. Voting this week has put these two in a runoff come July 31st for the Republican nomination.…
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