Jorge Velasco writes in Reason about how subsidies distort energy markets.
- Energy subsidies allow politicians, not markets, to pick energy winners and losers.
- Market-distorting subsidies also stifle innovation by crowding out crucial capital for emerging technologies that do not yet receive preferential treatment from the government.
- Instead of extending harmful subsidies, lawmakers should implement technology-neutral policies to accelerate energy innovation.
Read the full article here.