8/21/2011

Can anyone make sense of Goolsbee's statements here?

So Goolsbee says that he agrees that "If the market wants to produce clean energy, it'll produce clean energy," but he acknowledges this despite supporting massive subsidies to get the companies to produce products that they wouldn't produce without the subsidies. From an interview with Larry Kudlow.

Mr. GOOLSBEE: . . . Now it seems like you're making fun of some of the alternative energy stuff, but if you look at China, if you look at Europe and if you look at a lot of the faster growing regions of the world, they're heavily investing in it.

KUDLOW: It's been a dismal failure in Europe.

Mr. GOOLSBEE: (Unintelligible)...alternative energy.

KUDLOW: It's been a dismal failure in Spain. It's been a dismal failure in Europe. I say, Austan, if the market...

Mr. GOOLSBEE: It seems like in China and Brazil it's been quite a success.

KUDLOW: If the market wants to produce clean energy, it'll produce clean energy. Natural gas from shale is clean energy.

Mr. GOOLSBEE: Look, I agree with that.


KUDLOW: I just don't see why we don't...

Mr. GOOLSBEE: I agree with that.

KUDLOW: ...call the EPA dogs off. That's one of these regulatory issues. Call the National Labor Relation dogs off of Boeing, Austan. In other words, some of this stuff, there's very little presidents can do. I get that.

Mr. GOOLSBEE: OK. [I don't think that Goolsbee is conceding anything with this last OK.]

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