Joe Biden, emulating trendsetting blue state governors like California’s Gavin Newsom and New York’s Andrew Cuomo, recently has declared that by 2030, new car sales must be 50 percent zero-emission electric vehicles.
The problem with this decree is that it violates the proverbial rule against the government picking winners and losers. It’s one thing for the government to subsidize energy research, or, for that matter, any pure research. Libertarian purists might object to that, but sometimes these public-private research partnerships can accelerate innovation and help keep American manufacturers competitive. It’s quite another thing, however, for the government to restrict what sort of technology powers our vehicles, because there’s no way we can predict how technology will evolve between now and 2030.Read More