A recent Heritage Foundation article highlights the hypocrisy within the Obama Administration’s approach to energy.
The U.S. Treasury Green Book, which details the reasons for changing the tax code, explains that tax credits for oil and gas “distort markets by encouraging more investment” than otherwise would occur, causing overproduction. Yet somehow this sound logic is thrown out the window when alternative energies are discussed. For these sources the Administration recommends increasing and extending tax credits.
Obama’s energy policies are clearly more about pushing an agenda than sound, consistent economic policy. No power source should be receiving any special treatment, including renewable energy. To quote the Heritage Foundation, “stop micromanaging the economy;” and allow energy sources to grow on their own merits.