Biden’s 18th-century solution to a 21st-century energy problem
Green-energy dogma is like an ocean liner — slow to change course and difficult to halt. In Europe, Russia’s invasion of Ukraine has magnified the folly of Europe’s energy policies: Massive subsidies for wind and solar power coupled with bans on hydraulic fracturing (fracking), widespread shuttering of nuclear plants, and increased dependence on Russian natural gas have created a perfect energy-supply storm.
In the U.S., the Biden administration is using the Ukraine invasion as an excuse to double down on green-energy and electric-vehicle policies, while simultaneously conspiring to keep gasoline prices high and berating oil companies for not producing more. Only last fall, Democrats were berating oil companies to make them produce less.
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Jonathan A. Lesser, PhD, is the president of Continental Economics, an economic consulting firm, and an adjunct fellow with the Manhattan Institute. Based on a recent MI issue brief.
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