Monday, June 13, 2011
Here is yet another example -- they are legion -- of the Obama administration's regulatory policy running contrary to its fiscal and monetary policy.
The administration and its allies in Congress and the Federal Reserve are spending trillions to stimulate the economy, and then burdening it with extraordinary regulatory confusion, uncertainty, and straight up expense. It is no wonder that two policies so profoundly in conflict have done so little to improve the economy. This has been going on for more than two years and shows no signs of abating. The only question is whether the president understands the inherent conflict in his policies and simply prefers to satisfy the tremendous pent up demand on the Democratic left to re-regulate American business (an ambition largely frustrated since the second half of the Carter administration), or does not. I honestly cannot decide which explanation is more likely to be true.
This started with the loss of coal projects (new plants) where all the equipment has been purchased and shipped to sites throughout the US (excluding of course CA and the NE).
No regulation killed these plants, only the threat of cap and trade. So capital investment down the drain, construction jobs thrown away for nothing but perceived political advantage.
These plants would have at a minimum been more efficient and less polluting than their older cousins.