North Carolina possesses a plethora of natural resources and many options for producing energy. Unfortunately, government regulations and restrictions have for many years enacted policies that favor some forms of energy production over others.
Governments shouldn’t be picking winners and losers; they should allow all forms of energy production without giving special benefits or incentives to a select few.
Energy subsidies – for oil, wind, or any other source – are a poor use of taxpayer money. Often, they are simply an effort to prop up inefficient energy production in the hope that it will become efficient in the future, an extremely expensive taxpayer venture that most often ends in failure.
The fingerprints of cronyism can be found all over the big energy industries. In Washington, lobbyists are more important to energy companies than the scientists and engineers that create their valuable technology.
Meanwhile, regulations and restrictions make it impossible for entrepreneurs to develop new forms of cheap and clean energy.
Energy sources that really work for consumers don’t need government handouts to thrive. The right policy is energy freedom. As with every other example, the free market allows businesses and ideas to compete freely to produce the most efficient forms of energy at the lowest possible costs to consumers.
As your Senator, I will vote to cut taxes and lift regulations and I will vote against using taxpayer money to subsidize companies, whether old and established or new and innovative.
The best way to ensure a clean natural environment is to protect the private property rights of individuals and grow a strong, free-market economy. When wealth remains in the hands of innovative taxpayers, more options are available for consumers to purchase clean technologies.
However, American environmental policy is more often characterized by special deals, corporate subsidies, and crony favors for insiders – a prime example being Solyndra. The protection of our environment will never be accomplished by central planners. Only individuals and communities voluntarily working together with private, free-market incentives will be able to achieve that goal.