The administration’s pie-in-the-sky energy planning is working exactly as one might have predicted.
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The Chevy Volt, set in motion by coal-fired electricity (why wasn’t it called the Chevy Bituminous?), looked like a great idea on paper but not so good when it started to explode three days after a collision.
Due to lack of demand, even with the $7,500 per car federal tax rebate and another $5,000 giveaway in California, General Motors recently announced that it is suspending Volt production for over a month, idling 1,300 workers.
The Obama administration’s solution for the Volt being a dud is to hike the federal rebate to $10,000, a move that will redistribute wealth in the opposite direction from what President Obama generally advocates. Last October, General Motors reported that the average income of Volt buyers was $175,000.
There’s another expensive dud in Elkhart, Indiana, with 100 tiny and unfinished Think cars currently lined up in Think City’s plant with no completion date on the horizon, a clear example of a failed jobs program designed by politicians who didn’t think enough.
Only two Think employees remain employed at the Think City plant, after untold millions of investment dollars and government incentives, tax breaks, and loan guarantees.
The cost to taxpayers at the federal and state levels of the Think boondoggle and the associated downfall of Ener1, a maker of batteries for plug-in vehicles, is confidential, according to Indiana’s economic development office.
“What is known, however, is that both the Obama and Bush administrations poured millions of dollars into battery production in a quest to power thousands of Think City vehicles with lithium-ion batteries,” reports the Chicago Tribune. “To date, Ener1, parent of the battery company, has spent $55 million in federal funding, according to the Energy Department.”
Friedrich Hayek succinctly explained the problem in his 1988 book The Fatal Conceit: “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online