Energy
Weekly report on US Gas and Oil production prepared by the US Energy Information Administration.

Winter freeze turning Texas into Venezuela

2/18/21
from The Gray Area,
2/18/21:

The political and media left are taking the Texas freeze as an opportunity to target the free market, de-regulated power grid model they use.

The un-regulated model failed, says The Washington Post. They say this because they believe government involvement is helpful and they prefer the government control of everything. They think the government control model has no competition and are allowed to earn a rate of return on investment. They can raise rates only with the permission of state regulators. They conveniently forget that we learned in the 1980s in the telephone industry that this model does not work. It results in lack of innovation and higher costs. Unfortunately, those like the WaPo writer either don't know this, because history is not learned from anymore, or they are too hypnotically attached to the failed socialist models.

That's the worst part of this winter freeze crisis in Texas. It lets the wolves into the hen house.

Most of America knows this and knows better to let government in, based on the history of America and other countries, like Venezuela.

Government involvement solves nothing. Government brings no workable solution to anything. Pick your example. What it does is insert bureaucracy and cost. As a result, some political cronies and government agencies make money. That's it.

The Texas power grid plan failed. Whether it was the model, the people or the process, we will soon find out. It is most likely all. But, the worst we can do when we identify the reason for this failure, is to go the route of introducing radical government control into a successful state like Texas.

As explained in detail in the Economic Policy Institute articles below, this failure can also be pointed to already allowing too much government pressure into the process and any further poor decisions like that will lead Texas, not to be California, which is bad enough, but to be Venezuela.

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