The Domino Effect of Green Energy Failure
William Yeatman, an energy expert at the Competitive Enterprise Institute, described the Obama administration’s funding of green energy companies as “vertical monopoly-type subsidy.”
A vertical monopoly, he said, is where a company owns an entire industry’s supply and production chain. He said that the government, under Obama, has subsidized the entire green industry, from suppliers of car parts, to manufacturers of the cars themselves, to buyers through tax credits for purchasing hybrids.
“We’ve never seen anyone try to go from A to Z and plan out an industry,” Yeatman said. “The history of government creating industries is one of unmitigated failure.”