As soon as you say the words ‘Industrial Plan’ the Republicans will start screaming ‘government interference in the economy’ at the top of their lungs. But the fact of the matter is that we already have an industrial plan. But it’s a plan that has been implemented piecemeal over a few decades with little or no thought about how the pieces fit together.
For example, there is a federal subsidy of home installation of solar panels. In a rational world that would be considered part of an industrial plan. So would the federal subsidy of methanol. So far so good, we are subsidizing a renewable source of energy and a bio fuel.¹ But we also subsidize oil, it’s called the oil depletion allowance and it is a tax deduction available to owners of oil stocks. Now those three subsidies combined make no sense, but as I said there has been little or no thought as to how the pieces fit together.
So the first step in developing the AWCP industrial plan would be to research and document the existing industrial plan. Once that is complete the next step would be to simplify the existing industrial plan as much as possible. Only then would there be any move by the AWCP to make any additions to the industrial plan and you can make a good case for making no additions, just let the market determine the winners and losers without any interference from the government.