Governments worldwide propose “energy policies,”–subsidizing some energy firms while taxing and overregulating others. Picking winners and loses by obstructing free markets.
For decades, U.S. lawmakers have been subsidizing “alternative energy” schemes that would never work without government support. “The first justification was that internal combustion engines polluted too much. But emissions steadily declined, and today’s cars emit about 3% of what their predecessors did.”
“In recent months, Tesla sales plunged to nearly zero in Hong Kong and Denmark, as huge government subsidies were eliminated.”
The same thing will soon happen in the United States, so some government bodies (such as the California legislature) are seeking to maintain massive artificial supports for Tesla and other electric “car makers.”
A 2015 study found the richest 20% of Americans received 90% of hundreds of millions in taxpayer EV subsidies. Thus, such subsidies represent a massive transfer of wealth from poor people to rich people.
