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Mar. 14th, 2008
GE’s Immelt: U.S. Energy “Policy” Is a Certain Kind of Hell - WSJ Blog - 13 Mar 08
"Renewable energy isn’t just a subsidy baby, subject to the whims of Congress. It’s a multi-billion dollar business for GE around the world. 'If the U.S. doesn’t buy my wind turbines, I’ll go to Turkey,' he said.
And government largess helps drive progress—like in GE’s aircraft engine division half a century ago. That admission riled free-market types in the audience (and on stage) who took him to task for subsidy-hunting and accused him of—gasp—betraying his capitalist credentials.
'Don’t worship false idols,' he countered. 'The government has its hand in every industry. If we have to have them, I’d prefer they were productive rather than destructive.'"
GE’s Immelt: U.S. Energy “Policy” Is a Certain Kind of Hell - WSJ Blog - 13 Mar 08
"Renewable energy isn’t just a subsidy baby, subject to the whims of Congress. It’s a multi-billion dollar business for GE around the world. 'If the U.S. doesn’t buy my wind turbines, I’ll go to Turkey,' he said.
And government largess helps drive progress—like in GE’s aircraft engine division half a century ago. That admission riled free-market types in the audience (and on stage) who took him to task for subsidy-hunting and accused him of—gasp—betraying his capitalist credentials.
'Don’t worship false idols,' he countered. 'The government has its hand in every industry. If we have to have them, I’d prefer they were productive rather than destructive.'"