“The art of economics consists in looking not merely at the immediate but at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”
– Henry Hazlitt, “The Lesson,” Economics in One Lesson. (1946, et seq.)
Solyndra’s impending liquidation, replete with 1,100 layoffs and U.S. taxpayer liabilities in excess of a half billion dollars, has put so-called green jobs initiative of the Obama Administration in negative light.
But make no mistake: recent loan guarantees from the U.S. Department of Energy to new solar projects to beat a September 30th funding cutoff is business-as-usual as the foes of oil, gas, and coal desperately seek business traction for an uneconomic energy.
From Climate Alarmism to ‘Green’ Jobs
With unemployment on the rise and new jobs scarce, politicians are keen to create employment, at least the visible kind that they can sum up for the public.…
Continue Reading“The cost for wind’s little or no environmental benefit is high.”
– Robert Peltier, “Chart a New Course.” POWER, September 2011, p. 6.
POWER magazine’s editor-in-chief, Dr. Robert Peltier, is in the energy reality business. An honest broker, the professional engineer and former Stanford University professor assesses rival technologies as he sees them. And so at times, he is at odds with groups such as the American Wind Energy Association that peddle uneconomic technologies.
Peltier’s lead editorial in the September 2011 issue of POWER magazine is notwworthy for its arguments and for its import in the history of energy thought.
Future scholars will look back on our present debate and assess who had the best arguments, and who was willing to take risks to advance them–and who were the for-hire millers using half-truths and PR hits to evade the implications of consumer choice, technological reality, and sound science (and yes, climate science is hardly settled in favor of alarmism but just the opposite).…
Continue Reading[Ed. note: This post follows yesterday’s post by Donald Hertzmark challenging a call for federal price controls on energy.]
The spectacular problems that beset the Federal Emergency Management Agency (FEMA) after Hurricane Katrina have led analysts of weather emergencies to look elsewhere for leadership, or even evidence of competence.
Increasingly, that leadership has been found prominently in the private sector: among companies being recognized for their emergency response capabilities are big box retailers like Walmart and Home Depot and the regional restaurant chain Waffle House.
One reason that some government agencies may be failing is that their attention is directed to the wrong things. High on that list is policing against high prices during emergencies. Basic economic analysis finds that price gouging laws end up wasting state government resources and wasting consumers’ time during emergencies.…
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