Mr. Taylor writes well about economics. The problem with this bill is that it is a central plan just like the kind the Soviet Politburo used to issue. We all know how successful the Soviet central plans were. This bill will lead to boondoggles and not solve any problems.
I don’t doubt that he writes well about economics.
What really lights me up is when these think tank types start trying to recommend solutions that are just clearly not going to work.
For example, here’s my energy plan, in a nutshell:
Provide tax incentives to convert the US auto fleet to diesel engines ASAP. Provide more incentives for the oil industry to double the output of diesel fuel(s) in the same time period.
All this babbling about hybrids, itty-bitty cars, etc — all mental masturbation. All of it. If I were in power and could force a solution down upon the country to save fuel, it would be the modern, computer-controlled diesel engine. We’d see the efficiency of engines in cars go from 29% (the typical gasoline engine) to 40% in one leap, with a minimal amount of consternation among both the auto manufactures and consumers.
Next solution: Use the fact we have ethanol in our gasoline to make an assumption that we have increased octane ratings in our fuels. Mandate higher compression ratios on new gasoline engines (for those autos that don’t convert to turbodiesels) and increase the fuel efficiency of gasoline engines by using a Miller cycle instead of the Otto cycle. Toyota is already using the Miller cycle engine in the Prius. There’s no requirement we use the hybrid crap to save fuel.
There’s well known, absolutely sound ideas out there that engineers know for a rock-solid fact will work, will be accepted by the marketplace, etc. But these people in DC - politicians, think tank wonks, environmentalists, etc — all think they know more than engineers about physics, math and putting products out into the marketplace.
All these people who assume they know something about the subject are pissing off those of us who actually do know something about the subject.