CEI Today: Auto bailout myths, coal-fired power plants, and the $1.8 tril regulatory burden



Openmarket.org: Mother Nature And Good Luck, Not Big Government, Saved General Motors… For Now

There are lots of claims that the federal government saved the American auto industry by bailing it out. (Never mind Ford didn’t get a bailout, and “foreign” companies such as Honda and Toyota make many of their cars in America.)

General Motors never would have recovered as it did if not for the 
massive Japanese earthquake and Tsunami that devastated its rivals, such as Toyota.  > View the full commentary at Openmarket.org


> Interview Hans Bader


Globalwarming.org: WaPo’s Wonkblog Mimics Mistake by Grist Blogger


Brattle Group analysts estimate how many coal-fired power plants will retire rather than install expensive-yet-pointless regulations imposed by the Environmental Protection Agency.

In fact, these retirements are derivative of a decision faced by individual coal power plant operators across the country: Whether to install hundreds of millions–even billions–of unnecessary capital costs imposed by EPA, in an electricity market characterized by historically cheap gas.
> Read the analysis at Globalwarming.org


> Interview William Yeatman

The Washington Times: Regulations and rules equal broken government


When President Obama and Mitt Romney are jousting about taxes during their ... debate, one or both candidates might correctly point out that the Constitution explicitly forbids taxation without representation. They would do well to also point out that it guarantees against regulation without representation.

Competitive Enterprise Institute working paper, “Tip of the Costberg: On the Invalidity of All Cost of Regulation Estimates and the Need to Compile Them Anyway,” assembles total federal regulatory costs of $1.8 trillion — equivalent to half the federal budget (tenthousandcommandments.com). > Read more at Washingtontimes.com

> Interview Wayne Crews, Ryan Young



Horner Book:
Gore’s green money machine

So, Al Gore came to do good and ended up doing really, really well, according to the Washington Post. That’s actually not unique for Washington, except possibly as a matter of scale: Gore went from being worth $2 million when leaving office to about $100 million now.

Gore, of course, “invested” in or otherwise found profitable arrangements with many companies whose financing mostly comes courtesy of the taxpayer, either directly, or indirectly in that private money flocks to that which politicians wed themselves to — the “halo effect” — on the knowledge that once the spigot opens it is difficult to turn off for fear of having a taxpayer-funded flop on their hands.

I couldn’t help but be reminded, by this story, of the personnel executing these programs for President Obama, he of the $90 billion in “green energy” money squandered on boondoggles whose own owners’ sales pitch for the dough was unless you give me this money, I won’t exist. > Read more




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