Can Congress Really Predict Alternative Energy Technologies?
Does it really make sense to “invest” in alternative energy companies?
Alternative Energy Wind Mill
As president-elect Barack Obama is about to be sworn in as President, I predict one of the first “economic stimulus” initiatives will be to spend more money on alternative energy. But is this really good for the economy? And, more important, is it really a good way to spend taxpayers’ money?
The biggest problem that is worrying me in all of these economic stimulus initiatives is that the Federal government is choosing which companies to give money to. Whether it be the car industry, the banking industry, and now alternative energy companies. My problem with this is two fold. First, allowing Congress to decide which companies to invest in is just asking for more corruption in politics. I have no doubt that large campaign donors will receive more than their fair share.
Second, I really doubt that Congress knows enough about alternative energy technology to predict which company has the most viable solution. The free market is the best way to sort out viable alternative energy technologies and alternative energy companies.
Don’t get me wrong. I hope that we continue to develop viable alternative energy solutions, but I don’t believe that taxpayer dollars should be used. I hate buying businesses for people. If the owners believe that their product is viable and profitable, let them convince investors of this.
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