energy policy

U.S. Energy Policy: Who Needs Prices?

As government interventions in US energy markets grow by leaps and bounds, some of the core principles that made the US an economic superpower are being forgotten.  These include using price signals to guide allocation of capital; aligning incentives such that promoters have enough "skin" in the game to weed out unproductive business plans and establish venture discipline in potentially viable ones; and focusing the role of government on establishing market-neutral rules of operations instead of trying to substitute government workers or appointees for entrepreneurs.  There is much hype ab

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