Policy can encourage development of nontraditional energy forms as either supplements to or replacements for traditional forms. Economically, the approaches are poles apart.The administration of US President Barack Obama has confirmed plans to commit the country to the costlier option and welded its motives to the mitigation of climate change. Soon to be bonded in policy, unless economic judgment prevails, are two uncontrollably expensive programs offering proportionally small benefits.‘Overproduction’Long-implied intention became explicit in the Treasury Department’s discussion of a proposed federal budget that would raise taxes on the oil and gas industry by $50 billio...