Left, Right, and Wrong on Energy
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The Senate is currently considering an 800‐page energy bill. Why are an administration and a Congress controlled by a party that allegedly favors market forces so willing to intervene in energy markets? What’s wrong with energy markets that requires government attention? Why do we need to subsidize renewable energy, nuclear energy, ethanol, hydrogen‐powered fuel cells, “clean coal” technologies, and natural gas pipelines? Do domestic oil producers really need more generous targeted tax breaks? Should Congress outlaw even more consumer appliances in the name of energy efficiency? Why does the introduction of market forces in electricity require more regulation from the FERC? Should we allow drilling in the Arctic National Wildlife Refuge or impose more stringent fuel efficiency regulations on light trucks? Some of the answers offered by Cato’s experts may surprise you.