U.S. vs. China on Clean Energy (Letter to the Editor)

U.S. vs. China on Clean Energy (Letter to the Editor)

April 04, 2010
Originally published in The Los Angeles Times

The story says "China overtook the United States for the first time last year in the race to invest" in clean energy -- as if Americans should be alarmed. They shouldn't. The prize for this "race" is wasted money, which means that the winner is actually a loser.

That's because the Chinese clean-energy industry, like the U.S. clean-energy industry, is wholly a creation of government, and government-created industries are doomed to failure.