In just eight years, Bitcoin and the idea of “virtual currency” have gained acceptance and use both online and in the physical world. Spread by word of mouth and other “viral” means, decentralized virtual currencies have gone from a mere thought experiment to a tangible economic reality.
The decades-old legislation that prevented American producers from exporting oil is officially overturned—despite previous presidential threats to veto a bill to lift the oil export ban. That’s good policy. However, to get the support of “reluctant Democrats,” The Economist reports: “an additional five years of tax credits for wind and solar power” was part of the package. That’s bad energy policy.
If you live in the United States, vote, pay taxes, and get your electricity from a utility company, you’ve helped the solar power industry. You support the solar industry through a variety of tax and regulatory policies—voted in by politicians you elected—that favor it over other lower-cost forms of electricity generation.