I’ve written about the government’s war on consumer-friendly light bulbs (and also similar attacks on working toilets and washing machines that actually clean), so I’m generally not surprised by bureaucratic nonsense.
But even I’m shocked the federal government gave an affordability award for a light bulb that costs $50. I’m not making this up. Here’s a blurb from ABC News.
The U.S. government has awarded appliance-maker Philips $10 million for devising an “affordable” alternative to today’s standard 60-watt incandescent bulb. That standard bulb sells for around $1. The Philips alternative sells for $50. Of course, the award-winner is no ordinary bulb. It uses only one-sixth the energy of an incandescent. And it lasts 30,000 hours–about 30 times as long. In fact, if you don’t drop it, it may last 10 years or more. But only the U.S. Government (in this case, the Department of Energy) could view a $50 bulb as cheap.
Isn’t that wonderful? My tax dollars were used to reward a company that produced a light bulb I can’t afford.
Lisa Benson has a very good cartoon about this light bulb, as well as the less-than-shocking news that Obamacare will be more costly than originally forecast.
Last but not least, I’m up in New York City for an investment funds conference about the Cayman Islands. Not a bad view from my window, though you need to click on the image to get a good idea of what I woke up to.