But the wave of the future turned out to be a stagnant puddle. Solyndra went bankrupt. Meanwhile, Fremont, like most of coastal California, has had continual outmigration to other states and has grown only due to immigrants. It grew only 6 percent between 2000 and 2011.
If the Obama folks back in 2009 thought Fremont was the harbinger of America’s future, one wonders what thoughts they had, if any, about Williston, N.D.
You can be sure that Obama’s minions had no thoughts whatsoever about Williston. They live in a dream world where with sufficient quantities of other peoples’ money—or money created by the Fed—will solve all problems, including that elusive problem of pollution and global warming and clean green energy and…so forth.
I’ve written before about the miracle in North Dakota, as have many others. And I continue to watch the miracle unfold and ripple out to other oil shale fields across the country. The free market technologies and profit-seeking entrepreneurs are putting the US into the enviable position of becoming energy independent. What an amazing paradigm shift from just ten years ago when North Dakota was the least-visited state by tourists!
As Michael Barone wrote:
This tale of two cities has a moral, which is that no political or governmental leader can forecast the future. Barack Obama and his Nobel-Prize-winning energy secretary thought solar panels were a huge growth industry. They bet billions of [our] tax dollars and lost.
True, many private investors guessed no better. But they were risking their own money, not ours. And, yes, government research provided some early help in developing fracking.
But Fremont and Williston are more evidence, if any is needed, that the collective decisions of participants in economic markets do a better job of allocating resources than the often contributor-driven decisions of a few politicians.
Amen. Take it to the bank. The free market always…always…works better than government experts.