As part of his sweeping new climate action plan to address alleged global warming, President Obama intends to establish tens of billions in new subsidies for so-called renewables like solar and wind power. But according to FoxNews.com, a groundbreaking study recently completed by the National Research Council shows they will be virtually useless at reducing greenhouse gases. The pioneering study found that the subsidies would reduce less than 1 percent of total U.S. emissions over the next 25 years, and would be very costly to boot. Since some subsidies, like those for ethanol, actually increase emissions since they lower the price for motor fuels, this seems like a bad idea, no matter what you believe about global warming.
September 23, 2013 by David Rothbard,
David Rothbard is co-founder and President of CFACT.