• Free Market Innovation Slashes CO2 Emissions

      If you worry about global warming, you'll be happy to hear that U.S. CO2 emissions are now at their lowest level in 20 years.

      What caused such a massive reduction? Not government, reports AP:

      "it happened as a result of market forces rather than direct government action... the drop-off is due mainly to low-priced natural gas..."

      Natural gas now supplies 30% of our electricity - simply because profit-seeking companies saw that developing natural gas reserves was the most feasible alternative to coal.

      Government did not see that. Instead, it spent much more subsidizing trendy energy sources like wind and solar: Per unit of energy produced, the federal government spends almost 100 times more subsidizing wind energy than natural gas, according to the Energy Information Administration. It spends 1,000 times more per unit of solar energy.

      Yet those trendy technologies are so inefficient that they languish. Despite the subsidies. They still account for less than 3% of U.S. electricity.

      This is just the latest time that government has wasted money on energy pipe-dreams. In the 1970s, government blew billions on a "Synfuels" corporation. Now it requires people to use ethanol gasoline, which raises the price of gas and starves people in poor countries by driving up the price of food.

      Big Government micro-management kills people, wastes money, and sucks money away from technologies that really should be explored.

      Government should charge polluters for damage they do - but then butt out and let the free market figure out what works best.

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