Andrew Stuttaford of National Review analyzes the Biden administration’s rule by regulation approach to clean energy and climate change.
- Thus far, the Biden Administration has chosen to rule through executive order and regulation, favoring certain energy sources over others.
- This “all of government” styled approach has proven disastrous time and time again in both California and in Germany’s Energiewende program.
- Instead of using the government to pick energy winners and losers, the Biden administration should unlock the power of free markets to reduce emissions and tackle climate change.
“The real aim of the emerging central-bank game is two-fold. Firstly, to increase the cost of capital for climate sinners by ‘discouraging’ banks from lending to them and secondly, by mandating disclosure of such risks (and you can be sure that claims that they are minimal will not be acceptable) as a means to give climate warriors information that they can then use as a cudgel against financial institutions lending to the wrong sort of clients. Such a disclosure regime would be designed to help activists, not shareholders. It would have nothing to do with ‘risk.'”
Read the full article here.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.
