“There is no evidence that government scientists and engineers are better at forecasting the future and know how the future will play out better than the scientists and engineers in private companies. Technocrats ignore the fact that private companies also hire scientists and engineers, (not to mention MBA’s and economists) and make investments based on their outlook for the future.”
The technocracy movement that arose in the early part of twentieth century advocated turning over the reins of governmental decision making to scientists, engineers and other “technocrats”. It was argued that the expertise of technocrats would result in better decisions than those made by private companies.
The idea of technocracy was embedded in the concept of central planning and was heralded by Thorstein Veblen and embraced by the Soviet Union. In the early years of the Great Depression the movement enjoyed renewed popularity, the belief being that technical, rational and apolitical expertise could revive the economy.…
Continue ReadingThe Fraser Institute recently published a study examining the impacts of green energy policies inOntario,Canada. The summary of the study, which was written by Fraser Institute Senior Fellow Ross McKitrick, is below.
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The Ontario Green Energy and Green Economy Act (herein the GEA) was passed in May 2009 with the purpose of addressing environmental concerns and promoting economic growth inOntario. Its centerpiece is a schedule of subsidized electricity purchase contracts called Feed-in-Tariffs (FITs) that provide long-term guarantees of above-market rates for power generated by wind turbine farms, solar panel installations, bio-energy plants and small hydroelectric generators. Development of these power sources was motivated in part by a stated goal of closing the Lambton and Nanticoke coal-fired power plants.
This report investigates the effect of the GEA on economic competitiveness in Ontario.…
Continue Reading“No matter whose carbon dioxide emissions estimate is used, the climate impact of the oil transported by the pipeline is too small to measure or carry any physical significance. In deciding the fate of the Keystone XL pipeline, it is important not to let symbolism cloud these facts.” [1]
Climate change results from a variety of factors, both human and natural. The primary concern raised over the pipeline involves the carbon dioxide emissions that will result from the production and use of the oil that the pipeline will carry. It is the potential climate change from these emissions that will be the focus of my testimony.
In its Draft Environmental Impact Statement, the State Department finds, and I think that there is broad agreement on this point, that a barrel of oil produced from the Canadian tar sands carries about a 17 percent carbon dioxide emissions premium compared to the average barrel of oil finding its way into the U.S.…
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