« Seattle economy due for 'good ride' in 2008 | Main | Remember Nixon's Project Independence? »
January 19, 2008
Remember the Synthetic Fuel Corporation?
I had never heard of it. But thanks to the Heritage Foundation, I found this backgrounder. In 1980 president (big government lacky) Carter formed a federal corporation with an $18B budget to "solve the energy crisis in 5 years". They had targets to be creating over 2M barrels per day by 1987. But of course government stupidity, partnering with the oil companies and the drastic drop in crude in the 80's lead to a huge failure. Regan rightly killed it in 1985. While I agree that the government cant commercialize squat, the part about minimum standards to support the free market was right and should be kept.
Another good piece of history on the energy independence topic is Ronald Bailey's timeline over at Reason.
Posted by Martin at January 19, 2008 5:59 PM
Trackback Pings
TrackBack URL for this entry:
http://www.nwventurevoice.com/cgi-bin/mt-tb.cgi/2990
Comments
Post a comment
Thanks for signing in, . Now you can comment. (sign out)
(If you haven't left a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Thanks for waiting.)