George Rebane

It’s hard to tell whether those who tout tax-and-regulate AB32 are evil and betting on voter ignorance, or are themselves ignorant about the nature of California’s ‘lead in private sector investment in clean-tech industries’.  (Clean-tech is the progressive’s new hide-and-seek semantic with anything ‘green’.  Newspeak requires constant management.)  These pages have long pointed out that capitalism will always conspire with government if it sees larger and less risky profits in the union.  This by itself explains away the left’s celebrated statistic why California leads in such investments.  To the critical thinker news of such a ‘lead’ is bad indeed, and still the know-nothings dance in the streets.

I am happy to report some support for these observations from none other than the 22sep10 WSJ in the following short editorial ‘Why They Go Green’ reproduced in its entirety.

In a free energy market, companies succeed by producing cheaper, better products than competitors. In a “green” energy market, companies succeed by holding Beltway fundraisers. For more on the distinction, ask Senate Majority Leader Harry Reid, who will benefit today from a tony Washington money-raising breakfast hosted by top “renewable energy” industry groups.

Democrats may be losing altitude with most of struggling corporate America, but it’s all about the love with the green sector, floating above economic realities thanks to stimulus handouts and other perks funneled them by the majority. Mr. Reid has been a strong advocate of this transfer, and the industry is showing it knows how to give back.
 
That, and watching its back. The companies that belong to the American Wind Energy Association or the Solar Energy Industries Association (among the fundraiser’s hosts) produce costly products that can’t compete against traditional fuels. Their business plans are written around Washington subsidies and mandates. They’re obviously worried a Republican majority might pare back the grants, loans and tax credits, in the name of cutting government waste. One can hope.

As the event invitation noted—in requesting $2,500 to attend—Mr. Reid’s Nevada Senate competition against Republican Sharron Angle is an “incredibly important race.” Indeed it is if your balance sheets depend on the Democrats’ special way with taxpayer money.

Bonus Thought of the Week – Obama’s Economy Czar Larry Summers suddenly discovered that he hadn’t fed the goldfish in his Harvard office for some time now, and that he’d better hurry back.  He joins Christina Romer, Chair of the President’s Council of Economic Advisers, who made a similar discovery last month and had to skedaddle back to UC Berkeley.  Look for more senior advisers getting ready to hit the silk, especially those having a role in prolonging the recession, designing the phantom economic recovery, and going ballistic on debt.  Summers’ and Romer’s obvious incompetence in anything economic would soil their resumes had they been in any other field in which performance is measured and remembered.  But economists belong to a charmed class of professionals where such catastrophes are merely bygones.  Nevertheless, the smelly mess they have created across the land is something to which they would rather have us forget their intimate connection.  Bye-bye Beltway.