“… communications between different regulatory agencies as the event approached were inadequate. Transparency regarding the location of natural gas supply infrastructure was atrocious.”
“Currently Texas is #1 in the nation in terms of existing wind capacity. It is also #1 in terms of planned capacity additions for wind and solar, and #2 in the nation for planned battery capacity additions. However, there is little-to-no planned capacity addition for other forms of dispatchable generation. This could become an issue for reliability.” (Baker Institute, study, below)
There is not only government failure in the quest to address market failure. There is analytic failure in identifying market failure that government is empowered to correct. Restated, problems attributed to markets are often the result of prior government intervention on close inspection.
This is true with some classic examples in the energy field, from the origins of public utility regulation of electricity to oil overproduction under the ‘rule of capture’, stories for another day.…
James Hansen is a mixed bag. In important areas, he speaks truth to power and is a thorn in the side of “magical thinking” wind-and-solar “environmentalists.”
But the blinders are on when it comes to climate sensitivity to greenhouse gases; market entrepreneurship for adaptation/resiliency; the benefits of carbon dioxide (CO2) emissions for Global Greening; and the positive effect of moderate warming for many people in many places of the world for most of the year.
Here are some examples of Hansen at his best:
“Imagine if the media was reversed on the climate/energy issue, supporting and promoting a free-market, classical-liberal position. They could look at my boxes of files from the Enron days (1990s) and produce an exposé, Enron Knew.”
Back at Enron Corp., I had “email wars” with the company’s climate lobbyist, John Palmisano, the author of the infamous “This agreement will be good for Enron stock” Kyoto Protocol memo. Enron had at least a half-dozen profit centers that stood to benefit from CO2 restrictions, inspiring the activism that led Jeremy Leggett [The Carbon War (Penguin: 1999), p. 204] to identify Enron as “the company most responsible for sparking off the greenhouse civil war in the hydrocarbon business.”
The Palmisano/Bradley exchanges concerned regulating and pricing carbon dioxide. I was against; Palmisano for.…