The Corporate Welfare Devil is in the "Clean Energy" Details
June 15, 2022
On June 6, US president Joe Biden invoked the Defense Production Act "to accelerate domestic manufacturing of clean energy." That goal sounds laudable and, for those of us who don't own stock in oil or coal companies, probably uncontroversial. But once we start focusing on the details, Biden's order turns out to be just another crony capitalist boondoggle that's more likely to increase prices and slow adoption than the other way around.
Let's start with the situation as it is, according to the Department of Energy's press release:
"Demand for clean energy technologies such as solar panels,...