Ed. Note: The current government-led drive for battery electric vehicles (EVs) can be informed by history. In the 1890s through about 1920, electric vehicles went from market dominance to market rejection, outcompeted by the gasoline-powered internal combustion engine. This post, and others at MasterResource (here and here), revisit the early history of the electric vehicle.

Electricity was the early front runner for horseless carriages, and the great man of electric utilities, Samuel Insull, got out in front. In 1898, Chicago Edison opened battery-charging stations and offered promotional rates to jumpstart this market. “Load-leveling” rates meant cheap off-peak charging at wholesale to serve this embryonic market.

In 1899, Insull became president of the $25 million Illinois Electrical Vehicle Transportation Company, the western branch of the Columbia Automobile Company of New York, to market electric cabs and carriages in Chicago.…

Ed. note: Robert L. Bradley Jr. was one of 435 economists decrying the Biden Administration’s refusal to engage in deficit reduction through less government spending and borrowing. The letter, organized by Jim Carter, Founder of Concerned Economists and Director, Center for American Prosperity, follows:

Dear Speaker McCarthy and Leader Schumer: 

We, the undersigned economists, urge Congress to reject the anti-growth tax increases and unsustainable budget deficits put forward by the Biden Administration. 

Our economy is still suffering the lingering effects of excessive government spending, massive increases in regulation, and the 40-year high inflation crushing American families. With consumer sentiment languishing and 41% of the American people saying they are worse off economically than they were two years ago, the recent failure of three banks will further shock our economy.

“It took a decade in Texas, but the cancer grew and spread–thanks, in part, to the very projects that Mr. Howard lists on his resume. Between 3,000 and 4,000 MW of mostly wind but also solar projects are claimed, led by Los Vientos I, II, III, IV, V, and VI….

Milton R. Howard, one of the nation’s leading wind/solar developers (along with the spouse of the Houston Chronicle business editorialist, another story) sees himself as a great man, creating value for society in addition to his employer and himself.

He describes himself as a “people person” who is “making this world a better place than I found it.”

I am driven to make things better from an overall economic, social and environmental standpoint. I am passionate and a high achiever but also very much a people person.

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.…