On Energy, They Both Stink

by William Yeatman on October 8, 2008

Last night’s Presidential debate confirmed what had become apparent when the vice presidential candidates locked horns last week: Both campaigns have horrible energy ideas.

For starters, both Senator John McCain and Senator Barak Obama contributed to the irrational hatred of “big oil.” McCain even said that he voted twenty times against renewable energy giveaways (which is a great idea, because renewables are a waste of taxpayer money; See next paragraph) only because they also included favorable treatment for “big oil.” McCain had it half right—all government handouts to business are bad ideas, not just those to “big oil.”

For his part, Senator Barack Obama said that he would create 5 million jobs with a green jobs program. That’s simply not true; government cannot create jobs out of the blue. Instead they come from other sectors, and the transition costs involved in the switch means a loss in economic productivity. Think of it this way: For every green job “created” by government, a greater number of jobs are lost in businesses that supply or use large amounts of conventional energy.

Moreover, both candidates advocate expensive energy rationing policies to cure climate change.

When it comes to energy, there is in no choice for the American voter in the 2008 presidential election.


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