Federal regulators evidently believe that Americans are irrationally choosing to spend hundreds of billions more on energy than they should. Consequently, benevolent bureaucrats have imposed regulations to guide hapless consumers toward making the proper energy saving choices when it comes to purchasing cars, air conditioners, clothes dryers, refrigerators, and light bulbs. Reason Science Correspondent Ronald Bailey reports on a new study that argues that the regulators are, in fact, the ones being irrational.
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