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Energy Minister Candidate Jennifer Granholm will speak at the Queen Theatre in Wilmington, Del. on 19 December 2020..

Photo:

Joshua Roberts/Getty Images

Joe Biden

published what he called his climate closet appointments, and progressives call it a star list. That depends on your point of view. One of the stars is the former governor of Michigan.

Jennifer Granholm.

to run the energy department, and that choice includes a return to climate subsidies for companies.

DOE’s main responsibilities are to oversee nuclear facilities, set performance standards and reduce the burden on government. But his honourable mention to Biden could lie in the fact that Granholm has donated hundreds of millions of dollars to politically privileged start-ups to create green jobs during her tenure as governor from 2003 to 2011. Many of their bets failed.

Take the new manufacturer of the electric vehicle battery A123 Systems, which received a $249 million grant from DOE, plus $125 million in federal tax credits. Plagued by production problems, A123 went bankrupt in 2012. The Chinese Wanxiang Group purchased the majority of the assets.

The A123 customer, Fisker Automotive, also went bankrupt in 2013 after receiving a $192 million loan from DOE to build a plant in the Biden Senate Court to produce a hybrid. Mr. Fisker was supported by, among others, large liberal investors.

Al Gore.

According to the Washington Post, lobbying by all local politicians would have prevailed for the Wilmington factory in 2013.

Ms. Granholm also proposed a battery manufacturer…

LG Chem

$125 million in addition to the $150 million in federal funding it received. While LG Chem is still active, employees at the time were caught watching films and playing games on their watches because they wouldn’t be productive.

Subsequently, the Mascoma Biofuels Plant was launched, which received $20 million from Granholm and up to $100 million from DOE for a biomass to cellulose ethanol plant. The factory was never built. Granholm also approved $100 million for an abandoned sustainable energy park.

And don’t forget his dark bets on solar energy, including United Solar Ovonic, Evergreen and GlobalWatt. According to the Mackinac Center, a think tank in Michigan, only 2.3 percent of Granholm’s investment in the large federal stimulus bill has delivered on its promise of job creation. But there is little responsibility if the government fails.

This story is relevant because Biden and the Democrats again promise to increase spending to create green jobs. The government is a bad venture capital investor and only misallocates scarce capital. Investors today are investing in the launch of electric cars and batteries, betting on government subsidies and stricter emission regulations from the Biden administration that will force a boom in electric cars. The start-ups were well received under the Obama administration, but they still failed due to technical problems and low demand.

Mr. Biden also appealed to the North Carolina Environmental Protection Agency.

Michael Regan.

for the administrator of the EPO. Progressives praises Biden’s choice of an American black man after putting pressure on the head of the California Air Resources Board.

Mary Nichols.

because she didn’t care enough about environmental injustice.

You’re right, ironically. Nichols was the driving force behind California’s cap-and-trade program, the electric vehicle mandate, renewable energy requirements and diesel emission regulations. Together they have destroyed tens of thousands of middle class jobs and increased the energy costs for poor Californians. But the climate lobby says it hasn’t done enough to eliminate fossil fuel producers.

My friends, we are in crisis, Biden said this month, hiding from forest fires, hurricanes, floods and drought presumably caused by climate change. Unpacking these forgeries is a topic for another day. But as always in an ongoing crisis, the proposed solutions are more subsidies for the politically coherent, more rules, mandates and taxes for everyone else.

Wonderland: Does politics have a more important goal than the division of power into different categories? Images : Getty Images Composite : Mark Kelly

Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Published in the printed edition of 28. December 2020.

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