Information and choices

Defending the indefensible, US President Barack Obama stubbornly pounds a fat wedge between his policies and the realities of energy. The exertion makes him exude bad information. He might get away with claims about taxpayers giving oil companies $4 billion/year in subsidies. Few voters understand the difference between, say, expensing of intangible drilling costs and a tax credit for electricity from wind. Few can even define intangible drilling costs. Having failed for 3 years to cajole Congress into raising oil and gas taxes under the pretense of ending subsidies, Obama probably won't succeed now. The fiction nevertheless gives him a populist lever with which to move a fanciful energy ...

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