Ron Bailey writes:
The central planners in communist governments were notorious for issuing massively detailed top-down five-year plans to manage every facet of their economies. The accumulating inefficiency and waste produced by this sort of rigid planning led eventually to the demise of those regimes.
Speaking at Georgetown University on Tuesday, President Barack Obama outlined his “new national climate action plan,” which amounts to a federal top-down five-year plan—although he has only four years to implement it. Obama’s plan ambitiously seeks to control nearly every aspect of how Americans produce and consume energy. The goal is to cut the emissions of greenhouse gases and thus stop boosting the temperature of the earth. The actual result will be to infect the economy with the same sort of sclerosis seen in other centrally planned nations.
Let’s take a look at four aspects of the Obama five-year plan: rationing carbon, boosting renewable energy and energy efficiency, subsidizing climate resilience, and negotiating international limits on emissions.