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Washington Post: "Every country in the world would benefit from the honest pricing of energy"

1 min. read

Halt the pixels -- the Washington Post editorial page talks forcefully about dirty energy welfare!

Despite the popularity of many energy-subsidy schemes, the net result is a big drag on world prosperity. Government policies that make prices artificially low encourage people to use too much energy, resulting in pollution that dirties local environments, congested streets and global warming. At the same time, subsidies distort investment; instead of allowing capital to flow to where it would do the most good, they push it toward fossil-fuel production — and away from enterprises that would more usefully employ some of the money, such as clean energy. Supports also hurt government budgets by diverting resources away from worthier state spending. And they disproportionately benefit the wealthy.

Every country in the world would benefit from the honest pricing of energy...

Of course, we've been saying all this for a long time. Still, we're pleasantly surprised to see the Washington Post editorial board getting on board. Progress, however small...