From StateImpact Texas, a joint effort of radio station KUT Austin and KUHF Houston, a report that consumption of electric power in Texas isn’t growing as fast as expected: As the Texas Public Utility Commission (PUC) considers changing the electricity market so there’s more money to build new power plants, a mystery has popped up: …
Power Demand in Texas Grows More Slowly Than Forecasted Read More »
The Energy Information Administration’s “Today in Energy” series shows with a couple of charts how growing wind power output in the Southwest Power Pool region is cutting into the income of baseload power plants. The effect matters because baseload power plants tend to have the lowest operating costs. As baseload plants get pushed off the …
Eia Shows Higher Wind Power Output Cutting into Baseload Power Generation Read More »
The oil import quota system in place from 1959 to 1973 restricted imports to an amount equal to the difference between the federal government’s estimate of domestic oil demand and the estimate of domestic oil supply. But, of course, nothing in industry-protection policy can be easy, so the policy contained a number of adjustments and …
Politicized Implementation of U.s. Oil Import Quotas, 1959-1973 Read More »
When Arab oil exporters imposed their embargo on the U.S. and the Netherlands in October 1973, George Schultz noted that the United Kingdom and France faced hardly any problem accessing crude oil supplies.Schultz was Secretary of the Treasury at the time and had earlier been in charge of Nixon’s Cabinet Task Force on Oil Import …
A few weeks back George Schultz posted a few happy memories on a Hoover Institution website from his time heading Nixon’s Cabinet Task Force on Oil Import Control way back in 1969 and 1970. The task force was charged with reviewing the existing mandatory oil import quotas, first imposed under the Eisenhower administration, and recommending …
Energy Imports and Energy Security: a View from 1970 Read More »
For many years Lubbock, Texas was the largest or among the largest cities with dual, competing electric utilities. If a consumer was unhappy with utility A, all it took was a phone call and about three days and the consumer would be hooked up to utility B. Standard economic theory suggests that such an arrangement …
Can raisin growers pack and sell all of the raisins they grow? Yes, but only if the USDA permits it. Sometimes the USDA claims the right to take raisins off the market in the effort to keep the price to consumers higher. If a raisin grower doesn’t comply with the USDA’s demands, then the government’s …
Raisin’ a Complaint Against Usda Marketing Orders Read More »
Nathan Goodman, at the Liberty Minded blog, pulls the Hayekian knowledge problem out of the pricing field and applies it in the field of social relations. Well, technically speaking, Goodman employs just the tacit knowledge elements of Hayek’s “The Use of Knowledge in Society” article, but he uses it to make a good point: some …
At the Harvard Business Review Blog Rafi Mohammed offers a new proposal to combat price gouging. I don’t like it. First, of course, the title “The Problem with Price Gouging Laws” is exactly the title of my Regulation magazine piece on price gouging laws, and so it dilutes the amazing notoriety I gain from association …
Kate Galbraith, a reporter for the Texas Tribune, and Asher Price, a reporter for the Austin American-Statesman, have written a great historical review of the development of wind power in Texas. Recommended reading if you are interested in the development of wind power.
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