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sends a false price signal to investors about where capital needs to be allocated.”
“Why is the Fed Spending So Much Money on a Dying Industry? It should not be directing money to further entrench the carbon economy,” reads the headline of her New York Times article.
Based on what does Raskin declare a death sentence on the multitrilliondollar oil and gas industry?
In April 1977, President Jimmy Carter made the same prediction. He spoke to the nation, announcing that we are in an “energy crisis,” that the world is running out of oil and gas, and that the only way to transition to a new world with energy alternatives would be building and investing in major new government programs.
The result of Carter’s vision that big government was the answer to our challenges was multibillions of dollars in wasteful government spending and years of delay in the country making adjustments to new realities in energy — adjustments that could only be achieved by letting free markets work.
The crisis then, like today, was not a crisis about natural resources but a crisis in governing, where too many Americans bought the distortion that they needed much more, not much less government.
Carter was a one-term president, and by 2019, the United States was energyindependent, producing more oil and gas than it consumed.
Meanwhile, Raskin’s husband, Rep. Jamie Raskin, has been hit with an ethics violation charge for failing to report the sale of stock by his wife, cashing in for $1.5 million, in a firm under supervision by a federal agency that she used to lead.
I am reminded of the quote of Lord Acton, “Power corrupts …”
Corruption and political power are bedfellows. One follows the other.
It’s not the job of our politicians or our government to decide what America’s future should or should not look like. It’s not their job to decide which industries will flourish and which will fail. Let me remind all of the critically important phrase in the preamble to our constitution, explaining why it was created and adopted: “to secure the blessings of liberty.” The job of our politicians and our government is to work to “secure the blessings of liberty.” Securing life, liberty and property is what will secure our future.
Star Parker is president of the Center for Urban Renewal and Education and host of the weekly television show “Cure America with Star Parker.” To find out more about Star Parker and read features by other Creators Syndicate writers and cartoonists, visit the Creators Syndicate website at www.creators.com. COPYRIGHT 2022 CREATORS. COM