Government Regulations
To quote Jamie Dimon of JP Morgan Chase before Congress on June 13, 2012, "Lets not throw the baby out with the bathwater", ... "I believe in strong regulation, not necessarily more regulation".. He clarified by saying that continuing to add regulation on top of bad, ineffective regulation would just make it more complex and costly and less effective, meaning be a little thoughtful about the regulation that you impose on business. That is the common sense approach. People are concerned when they hear that Congress invites industry experts in to discuss development of laws and regulations for fear of watering down the law/regulation. So, that means they would rather have politicians in Congress who DO NOT understand the industry, develop a new law/regulation on their own? That hurts the industry, the economy and the employees and clients of the industry in question. If Congress is the "executive" representing the people of the US, they should use industry experts and make strong and proper executive decisions that create effective laws with with the best interests of the country in mind, and with out political maneuvering.

Both Liberals and Conservatives Get it Wrong on TX Power

from Goodman Institute,

What liberals get wrong: Deregulation is not the problem. Perverse incentives created by imperfect deregulation is. While wholesale prices in Texas climbed to $9,000/MWh and clobbered a small part of the consumer market, the vast majority of electricity customers in Texas continued to pay retail prices close to $120/MWh. They had no incentive to reduce their consumption, which would have freed supply to meet the needs of others. Texas’ independent regulatory authority (separating its market from the rest of the nation) was also not the problem. All the surrounding states (potential suppliers of energy) were just as hard hit by frigid temperatures as Texas was. What conservatives get wrong. Green New Deal thinking was not the problem. Low temperatures affected all sources of supply. Over one six-hour interval, wind generation fell 32%, coal fell 13%, and natural gas fell 25%. Solutions: We need variable pricing, with economic incentives for conservation by all electricity users. Buyers need to pay more when the cost of power is higher. But, just as almost all health insurance in this country has a catastrophic cap, that feature should also protect energy consumers in the same way. Markets are also capable of integrating the unique features of the different sources of supply and should be free to do so. Our friend and Nobel Prize winner Vernon Smith has a good analysis in the Dallas Morning News. See also, this commentary by Tyler Cowen.

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