Government cutting special deals for special friends – is always obnoxious, obnoxiously bad policy. It takes a lot of money from innocent, unwitting citizens – and hands it to politically-connected cronies. It warps functioning marketplaces – when governments place their massive thumbs upon the scales to tilt the system.
We’ve just narrowly escaped the Barack Obama Presidential Administration – almost indubitably the biggest imposer of top-down federal cronyism in our nation’s history. Thankfully gone – their cronyism is not forgotten by lower-level government officials looking to continue the obnoxiousness.
One of the companies seeking to maximize this bottom-up cronyism – is Exelon Energy. They run nuclear plants in several states – and they are going state-government-to-state-government looking for crony bailouts. Looking to save themselves – at the expense of the many states’ taxpayers.
Illinois was the first state to cough up the crony dough. Illinois’ elected officials moved crony-quickly – so as to short-circuit any citizen attempts to oppose.
Rauner Signs Exelon Nuclear Bailout: “Illinois (Democrat) Gov. Bruce Rauner has approved a plan providing billions of dollars in subsidies to Exelon….”
Exelon has also set their sites on New York. Uber-Left Democrat Governor Andrew Cuomo – is uber-happy to help.
New York State Is Perfecting Governor Andrew Cuomo Cronyism: “Governor Andrew Cuomo announced a unilateral mass expansion of government – in the name of fighting global warming…oops, I mean climate change: ‘The state’s Public Service Commission (PSC) earlier Monday passed a new set of standards that by 2030 is supposed to ensure that half of New York’s energy needs are met by renewable methods, ranging from solar and wind, as well as hydro and nuclear power.’…
“And with all of that new, huger government spending – comes a huge government tab. That’s where the new taxes come in: ‘(T)he Public Service Commission also included a new (energy) tax worth $8 billion.’…
“‘(The tax) money will go to plant owner Exelon, a Chicago-based Fortune 100 company with annual revenues of over $34 billion.’”
Choice. And now Exelon is looking for billions more from Pennsylvania.
Without Pa. Bailout, Exelon Would Close Three Mile Island: “Exelon Corp. announced Tuesday that it will “prematurely” shut down Three Mile Island Unit 1, the surviving reactor at the site of the 1979 nuclear accident, unless it gets some form of price supports from the Pennsylvania legislature….
“‘Like New York and Illinois before it, the commonwealth has an opportunity to take a leadership role by implementing a policy solution to preserve its nuclear energy facilities…’ (Exelon Energy President Chris) Crane said.”
Translation from Crony-to-English: “Like New York and Illinois before it, the commonwealth has an opportunity to take billions of dollars from its citizens – and hand it to us.”
Exelon is really getting good at this bottom-up cronyism thing.
But Illinois should be the beginning – and the end – of of their run. New York and Pennsylvania – should tell them to take a flying leap.
Exelon just recently began trying to tap into Pennsylvania. They’ve been leaning on New York for a while – and in that time the bipartisan opposition has become a bit of a thing.
Leftist environmental groups and some Lefty Democrats are joining with (not nearly enough) Republicans to stand athwart Cuomo’s cronyism – yelling “Stop.”
Pennsylvania’s citizenry – and their responsible, reasonable elected officials – should follow New York suit and marshal their forces in similar fashion.
And New York’s citizenry and their responsible, reasonable elected officials – should get even bolder and more vocal in their opposition.
Exelon’s bottom-up cronyism – should be stopped right now.