President Reagan once said, “The nearest thing to eternal life we will ever see on this earth is a government program.” The omnibus budget package being negotiated on Capitol Hill is a perfect example.
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.