Climate-change hysteria is the primary rationale for switching from abundant, affordable, reliable energy from fossil fuels to diffuse, expensive, unreliable "renewable energy from wind, solar, geothermal, biofuels, etc. It's also a main driver of failure after failure, often wasting millions or even billions in taxpayer dollars. That's one of many reasons to cheer this report from Bloomberg: President Donald Trump is set to sign a sweeping directive to dramatically shrink the role climate … [Read more...]
Why Do Taxpayer-Subsidized Businesses So Often Fail?
Subsidize renewable energy? What a great idea! If you like wasting money. SunEdison, which once described itself as the "largest global renewable energy development company" and was America's fastest-growing renewable energy company, filed for bankruptcy April 21. It seems that $1.5 billion combined subsidies and loan guarantees (including $650 million in grants and tax credits---i.e., outright handouts) wasn't enough to make up for the combination of hubris-driven over-expansion, … [Read more...]
