The sometimes staggering greed of corporate America is matched only by its affection for simple solutions to complex problems. Bloomberg.com offers a perspective on energy policy that you may have missed.
President George W. Bush used his State of the Union address to lay out an ambitious energy policy that significantly expands a number of existing programs. The centerpiece of his plan will increase our reliance on biofuels by a factor of five. In other words, he announced a policy that makes no sense whatsoever.
Of all of the embarrassing corners of government policy, our approach to energy may be the most shamefully indefensible. And now the indefensible is going to get bigger.
Sounds OK so far, but where are they going with this? Continue reading