If you look at the history of American innovations which have resulted in technological improvements and led to cheaper and more efficient manufacture and delivery of those products and services, you will find that overwhelmingly, private entrepreneurs (often in conjunction with inventors tinkering away on their own initiative) drove the development of such products.
This applies to the energy industry as well as health care. Strangely, in his pitch for greater government regulation of energy President Barack Obama made the case for less regulation. In a speech at the Massachusetts Institute of Technology, the president
. . . said the nation’s economic future is tied to its environmental promise, describing innovation as key to righting a flagging economy, saving the globe’s natural resources and ensuring U.S. competitiveness. . . .
“The nation that wins this competition will be the nation that leads the global economy,” Obama said. “I am convinced of that.”
So am I. And to win that competition, we need to unshackle the most productive sectors of our society, cut regulation and lower taxes to encourage innovation.
Unfortunately, the president’s program will do just the opposite.