19 Jun '12, 4pm

Columnist: Millions for coal and oil, but not one more penny for clean energy

Columnist: Millions for coal and oil, but not one more penny for clean energy

The Washington Post ‘s Charles Lane has a column today in which he argues that the Obama administration’s efforts to bolster clean energy is money “wasted,” and that if government does “double down on clean energy, it’s the federal budget that will end up busted.” He’s wrong. Lane bases his arguments largely on a report released earlier this month by Brookings. “Clean Energy: Revisiting the Challenges of Industrial Policy ” assesses the value of subsidies in bolstering a clean energy economy. What Brookings found probably won’t come as much of a surprise: Subsidizing clean energy initiatives is not always effective and is not the ideal way to bolster the sector. Instead of subsidies, the most market-efficient way to support clean energy is to internalize the costs of fossil fuel-based energy production. In other words, to build a system that — among other things — ends the...

Full article: http://grist.org/news/columnist-millions-for-coal-and-oil...

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