Government subsidies have killed the EV industry
Here’s a depressing-but all-too-predictable headline from The Wall Street Journal last week: “Detroit’s EV Pullback Is Costing $50 Billion.” Yikes. That’s a lot of money for the American auto industry to lose. Once again, we have confirmation of an iron law of economics: If you want to kill an industry, subsidize it. The best recent example of this rule is the green energy industry (solar and wind power), which has been heavily boosted with taxpayer dollars for almost 50 years now and is still an inconsequential form of overall energy supply. Dozens of promising firms ...