A free market on capital intensive industries chooses for efficiency, and efficiency means having single large dominant players at each step in the chain. Free markets create monopolies.

Regulations are what prevent monopolies and we've forgotten about enforcement of those rules for decades. So we ended up with concentrated monopolies and single points of failures in these critical industries.

Paltry subsidies and no new regulations means nothing will actually change, other than a few billion dollars going from tax payers into some small number of wealthy people's pockets.