Protesters gather outside the Houses of Parliament in London to call for an end to the government awarding new licences for oil and gas production in the UK, on Sept. 4, 2023. Adrian Dennis/AFP via Getty Images
Commentary
Governments are terrible at picking winners and even worse at choosing losers. Net zero and interventionist “Keynesian” policies in Canada and the United Kingdom have proven that government intervention has created a worse outcome than anyone would have expected. The result is higher costs, distorted incentives, and weakened productivity growth, with increased dependency on fossil fuels to attend to peak demand, exactly what Austrian economists predicted.
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