Friday, July 26, 2024

Biden Administration Launches A Great Leap Forward Into Green Energy

Probably very few readers here are old enough to remember China’s “Great Leap Forward.”  - Francis Menton  
...Yesterday the Biden Administration launched a significant new climate initiative with a design that has some remarkable resemblances to the Great Leap Forward. 
Since most readers probably don’t know how the Great Leap Forward worked out, I’ll save that for the end of the post.
The new Biden Administrative initiative is called “Community-Driven Solutions to Cut Climate Pollution Across America.”..
But the “community-driven” tag line here is what brings the memory of the Great Leap Forward. 
  • The basic idea is that the new investments and technologies to transform our energy economy are going to come from federal selection and subsidizing of various projects originating out of state and local governments, otherwise known as “communities.”..
  • Enough of the outmoded idea that the way to an efficient and reliable energy system is through profit-driven businesses competing with each other to find the most cost-effective solutions. 
  • The new idea is that local governments, aka “communities,” run the economy, directed and supported by some lavish funding from the feds...

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