Friday, November 7, 2008

Green Tech

The Obama job creation plan: ban shovels and require that all holes be dug with spoons. Well, not exactly, but close enough. Basically, the plan is to have the government (who else would be this stupid) invest $150 billion over the next decade in green technology, which will supposedly produce 5 million jobs. In what world does essentially divesting of an efficient technology and investing in an inefficient technology make sense? This is the road to poverty. And we know that green tech is not as efficient as regular energy, because if it was, private investors would be scrambling to invest in green tech without the use of government force.

This sort of government intervention is very dangerous because it is getting close to planning our economy. We see how disruptive to our economy the well intentioned desire for the government to create affordable housing turned out. It created a huge housing bubble which led to the current economic meltdown. Therefore, Obama is wasting no time setting up for the next disaster. Furthermore, promoters of this idea are ignoring the higher energy costs that we will have to pay as well as the existing jobs in the "regular" energy sector.

I am not opposed to green tech, heck I think it will be the savior of our planet. But I think it would be disastrous to subsidize any sort of new technology with our tax dollars. Green tech will happen when the technology is there. Right now, the technology is not there, and Obama is no better equipped than a capitalist to know when the time is right for investment in green tech.