Stephen Moore: Fake support for a free market in energy

A Manipulated Photo of a Pair of Nuclear Reactors with Smiley Faces on Them

I can tell you first hand, with respect to my friends on the enviro-Left (and believe it or not I have such friends), the “Left” is not interested in any way in an actual free market in energy. In no way, no how, do they want a free market. If they did they’d have been celebrating fracking, which produces natural gas that is clean and cheap, all along.

We shouldn’t prop any energy source whether it be coal, nuclear, natural gas, solar, wind, hydro-electric, or who knows what else. The market should actually determine the direction forward. Simple. But pretty much all energy right now is crony. The solar people AND the coal people want to keep it crony. Both groups want to keep you, the taxpayer, on the hook.

(FromThe Daily Journal)

Consider how gargantuan the green energy subsidies are. First, wind and solar receive a tax credit that basically is a 35 percent-off coupon for the energy they supply, with taxpayers picking up the tab. If coal or nuclear power got a 35 percent taxpayer subsidy for every kilowatt of electricity they supplied, they would be basking in profits. I helped write and negotiate the just-passed Trump tax bill. When we tried to get rid of the renewable energy tax credit (i.e., create a “free market in energy”), the green lobby went ballistic and told Republicans this would put much of the industry out of business.

For every dollar of subsidy that coal and nuclear power receive, wind power gets almost $5, and solar receives about $20. This does not even include the biggest subsidy of all: About half the states have renewable energy standards requiring utilities to buy 20 percent to 30 percent of their power from wind and solar, regardless of the price. What other industry in America has that kind of golden parachute?

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