House Democrats are crafting an energy package that would roll back billions of dollars worth of oil drilling incentives, raise billions more by boosting federal royalties paid by oil and gas companies for offshore production, and plow the money into new tax breaks for renewable energy sources, congressional sources said yesterday. (Washington Post, Thursday)
Out with the old central planning; in with the new.
FEE Timely Classic
The Genesis of Industrial Policy by Thomas J. DiLorenzo