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Granholm Flunks Econ 101 [Edward John Craig]
Henry Payne has a head-scratcher over on Planet Gore.Michigan governor Jennifer Granholm has mandated that 20 percent of the state's power come from renewable sources — and now she wants untilities to cut consumer rates by 20 percent.
You heard that right: Granholm will require utilities to provide costlier energy — and cap the prices customers pay for it. Does anyone in the Michigan Democratic party know basic economics? They plan to artificially prop up demand at the same time as they artificially restrict supply: the only way to square that circle is to ration the product.
Last year, Barack Obama named Granholm to his 17-member economic advisory panel — she appears to remain active in that role, if the president's health-care-reform agenda is any guide.