Once again, we see governments forcing policies that produce the opposite results from what they're intended to produce, while markets independently outdo the governments' intended results in seeking greater appeals to consumer interests.
NC ratepayers were faced with overpaying for electricity by more than a billion dollars. A new law was going to save them about $850 million on the cost of future solar power — until Gov. Cooper decided to intervene.
It'd be nice if our media wouldn't set their skepticism aside when it comes to climate cronyism. (You'd think this particular governor would have earned some skepticism from media when it comes to using environmental issues to promote cronyism.)
This troubling new scheme gives privately funded environmental litigator/activists — who are unaccountable to the people — state police power, if the attorney general demonstrates environmental fealty to the special-interest group funding it.
If you're a manufacturer or lobbyist for electric vehicles, forget lottery fever; Gov. Cooper just flung the door wide open for government cronyism in your field. As they say in lottery ads: "You may already be a winner!"
Steve Sexton, assistant professor of public policy and economics at Duke University, explains in The Wall Street Journal how California regulators used bad numbers to force a very bad policy on consumers.