Opportunistic politicians and gullible voters rally around free lunch ideas. The one that seems to captivate both groups these days is clean energy "investments" that will "create jobs" and clean the air. It is the two-fer that Barack Obama, Arnold Schwarzenegger and Antonio Villaraigosa (among many others) all enthusiastically support.
It now seems that the latter has come up short. Even the LA Times editorialized "Vote no on Charter Amendment B ... The proposed charter amendment and ordinance proposition is less about solar energy than it is a grab for political power." The Mayor and his friends had overreached and could not win this one (counting not yet over) in a low-turnout local election.
In this morning's WSJ, Kimberley Strassel writes that "The Climate Change Lobby Has Regrets." She quotes the Duke Energy CEO saying that: "If you don't have a seat at the table, you'll wind up on the menu." It seems that the poor guy overlooked the possibility that he could be both.
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A blog exploring the intersection of economic thinking and urban planning/real estate development and related big-think themes.
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