Politicians Wasted Billions Trying to ‘Invest in Our Future’

ENERGY / COMMENTARY

How Washington Politicians Wasted

Billions Trying to ‘Invest in Our

Future’

Nicolas Loris / @NiconomistLoris / May 06, 2016

The federal government has wasted billions on energy projects promising to usher in a new energy future.

Why? Because revolutions don’t come from the government—they come from the people, and the same holds true for energy.

Despite many attempts to force it, the next energy revolution won’t come from Washington. All Washington can do is play favorites when picking energy options (think Solyndra).

It does this through providing grants, loans, loan guarantees, mandates (like the use of biofuels), and tax subsidies to specific energy technologies—to only name of a few.

Another way in which the government intervenes in the energy market is the annual budget of the Department of Energy. Programs within the Department of Energy supposedly recognize that there’s great potential for wind, solar, fusion, geothermal, biofuels, carbon capturing technology for coal, and much more. These energy sources and technologies themselves may very well be worthy of investment, but that’s not the point. The problem is the government meddling in what is clearly not its role.

Read More: Here

Category: Opinion
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