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Most provisions of the American Energy Innovation Act wouldn't spur American energy innovation. Nor is the bill innovative in promoting sound public policy. //
if you’re in Washington, “innovation” is trotting out the same, stale approaches to policy that have done less to empower innovators and families and more to empower special interests.
The latest case in point is a 555-page energy bill introduced in the Senate. The majority of provisions in the so-called American Energy Innovation Act are not something that would spur American energy innovation, nor is it innovative thinking when it comes to promoting sound public policy. //
These interventionist policies put Congress and Department of Energy bureaucrats—rather than investors and customers—in the position of narrowing the field of competition between the many energy technologies being perfected in the U.S. right now to win customers. That cannot help but narrow the scope of innovation. //
The market for energy, whether it’s to light and heat our homes or to get to work every day, is a massive one. In the U.S. alone, consumers spent over $1 trillion on energy, and global investment reached $1.8 trillion.
Any of these technologies that can capture a sliver of that market won’t need the taxpayers’ help. Rather than propping up a few projects, if Congress wants American energy companies to innovate more, it should break down government-imposed barriers that prevent them from doing so //
Congress needs to put forth an energy bill, but one that does exactly the opposite of the American Energy Innovation Act.
Congress should undo the policies that have entangled the federal government in the business of energy and the decisions of families to make choices for themselves about what services and technologies best meet their needs.