Timothy Carney: How many lobbyists does it take to change a light bulb?
Earlier this month, Thomas Edison’s GE, together with Sylvania and Philips won a legislative victory when Congress passed an energy bill that would outlaw sale of the standard light bulb by 2012.
Sylvania is the leading light bulb maker worldwide, and GE is tops in America. These two companies, together with Dutch-based Royal Phillips Electronics, concede they basically wrote the new light bulb law. It goes without saying that they stand to profit from it — at consumer expense.
The energy bill — with its gifts to aluminum giants such as Alcoa, ethanol moguls such as Goldman Sachs and Archer Daniels Midland, and now GE, Sylvania and Phillips — shows that the doors of power are as wide open to corporate lobbyists as they have ever been, as long as the lobbyists are dressed in green.
Well it is good to see that it isn't just Gore getting into the action.
BTW: With GE stocks jumping like they did it looks like electronic companies, especially those that produce CFLs are a good buy!