Is there a ‘free market’ solution to the question of capacity incentives versus volumetric charges? I contend this the PUCT/ERCOT is in a central planner situation versus a true free market where integrated gas and power companies would solve the economic calculation problem, not state and federal regulators. More here: https://www.masterresource.org/texas-blackout-2021/central-planner-ercot-worked-as-planned/
Joseph Pokalsky: Integrated gas and power companies and gas companies are monopolies, don’t compete, and essentially tax ratepayers through rate setting by Public Service Commissions, a.k.a. Central Planning Committee Kommissors.
Robert L. Borlick: ERCOT is the furthest away from a central planning paradigm as any power system I know of. To argue that a free market consists of integrated gas/power companies is laughable. You don’t appear to understand the concept of a natural monopoly. As for the document you cited, it is a political rag that misrepresents the situation in Texas and unfairly blames Professor William Hogan for the irresponsible behavior of the Texas politicians.…
Continue Reading“’We fundamentally have to transform our economy in ways that are unimaginable to people who are over 40,’ Tomlinson said. ‘We have to cooperate, innovate and compromise, and most of all, we have to set aside our pride.’”
“[Tomlinson] said there is an unwillingness of pastors of all faiths to address climate change, knowing that many of their parishioners are involved in or invested in oil and gas.”
The Houston Chronicle business editorialist, Chris Tomlinson, is angry, impatient, and closed-minded when it comes to all things climate. A bona fide climate alarmist, he bullies the oil and gas industry to stop what they are doing. He wants Texans to stop eating meat to help save the planet. And he personally tells me in emails that I am not considered for his columns because I am critical about him (so be it).…
Continue Reading“Physical and economic realities must not only be considered but controlling. Wishing and hoping for change is not a successful business strategy, and the past few years have awakened BP management to that reality.”
“Leaning in” is a phrase BP plc CEO Bernard Looney likes to use to describe how his company is embracing the energy transition. BP is transitioning from an “international oil company” to an “international energy company,” according to Looney. This means more renewable energy and less oil and gas. Looney invoked “leaning in” in February 2020 when he introduced new strategic aims for BP to reach “net zero carbon emissions on an absolute basis by 2050 or sooner.”
The Plan
In Looney’s presentation, “Reimagining energy, reinventing BP,” he said BP needed to reinvent itself as a clean-energy producer because climate change demanded it. …
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