Act I finds the protagonist boldly proclaiming an original and bold explication of the economics and history of the gas and electric industries. In Act II, we use the weapons developed by our protagonist to render much that passes for sound energy policy both tragic and comedic.

In Act III, we search deeply within ourselves to discern if the protagonist provides answers to the modern vexations that ail us. Come let us listen to Friedman Milton as he disarms the protagonist.

Black and White–or Gray?

The Bradley Project seems to dichotomize the world into free market capitalism and political capitalism. To paraphrase George Orwell, free markets good; political markets bad.

I have no quarrel with Bradley’s conclusion that both energy generally and natural gas and electricity in particular have been victims of political capitalism in all its hoary forms.…

Synopsis: The U.S. Environmental Protection Agency, by pulling its punches in the Massachusetts v. EPA Supreme Court case, granting California a waiver to regulate greenhouse gas emissions from motor vehicles, and declaring greenhouse gas emissions a danger to public health and welfare, has positioned itself to regulate fuel economy, set climate and energy policy for the nation, and amend the Clean Air Act – powers never delegated to EPA by Congress. It is time to rein in this rogue agency. The Congressional Review Act Resolution of Disapproval introduced by Sen. Lisa Murkowski (R-AK) is the way to do it.

When did Congress tell the U.S. Environmental Protection Agency (EPA) to license California and other states to adopt non-federal fuel economy standards within their borders? When did Congress tell EPA to act as co-equal or even senior partner with the National Highway Traffic Safety Administration (NHTSA) in setting fuel-economy standards for the auto industry?…

The European Union is very concerned about climate.

But its concern is not principally about the scares emanating from the assumption-driven (Malthus in/Malthus out) studies regarding man-made climate change. The EU’s leaders fear that the Old Continent’s self-declared “leadership” in the “world war against climate change” might not be joined–and thus will be rendered ineffective in the global context. And the politicians know that all-pain/no-gain climate policy will increasingly trouble the voters, who must be placated.

This is a bitter pill given that the U.S. presidential elections brought into office the environmentally oriented Barack Obama and the alarmist dream team (Carol Browner, John Holdren, etc.). Europe felt like its efforts to curb emissions would enter a new phase, where the rest of the world would have progressively joined forces and leveled the playing field on pricing carbon emissions.…