Michael Giberson A New York Times article reports on negotiations initiated by the U.S. Department of Transportation seeking to get airlines to voluntarily give up landing slots at Kennedy Airport, one of the nation’s most congested airports. (Many other stories on this topic are available.) After a pep talk by the secretary of transportation, Mary …
Michael Giberson The Sunday Washington Post carried a front page story on the “slight oversight” of energy trading. Here’s the lede: One year ago, a 32-year-old trader at a giant hedge fund named Amaranth held huge sway over the price the country paid for natural gas. Trading on unregulated commodity exchanges, he made risky bets …
Michael Giberson It happens every year. The Nobel prize in economics is announced, the prize winner is delighted, as are his colleagues, his department, his university, newspaper articles get written and published. And then, before the papers hit the recycling bin, the complaints begin. This year the New York Times captures some of the complaints …
The Nobel Prize in Economics and the Usual Less Than Noble Complaints Read More »
Michael Giberson Arnold Kling writes, “After reading his book One Economics, Many Recipes, I keep imagining myself debating Dani Rodrik…and losing.” Among other things, Kling suggests Rodrik offers “industrial policy with an Austrian slant” — he quotes Rodrik’s book as saying “the right way of thinking of industrial policy is as a discovery process–one where …
Michael Giberson Want to learn more about market design? Al Roth has an article, “The Art of Designing Markets,” in the October 2007 edition of the Harvard Business Review. The article is available to subscribers online, or perhaps you can find it at your local bookstore. The introduction: Traditional economics views markets as simply the …
Michael Giberson Yesterday saw the release of reports from two organizations focused on the North American power transmission system. On the reliability side of the grid, the North American Electric Reliability Corporation released the 2007 edition of its annual Long-Term Reliability Assessment. (The first link is to the news release, the second to the report. …
Reliability and Markets: New Reports Out from NERC, ISO-RTO Council Read More »
Michael Giberson The Houston Chronicle‘s Tom Fowler and Janet Elliot have a pair of articles on the Texas power market restructuring experience and current talk about reforming state policy. From the lede in Sunday’s “Many Texas consumers feel competition in the state’s energy markets has been a costly failure“: When Texas lawmakers agreed to open …
Houston Chronicle Explores Texas Power Market Problems, Fixes Read More »
Michael Giberson Tracy Davis, writing at Energy Legal Blog, takes note of the Supreme Court’s decision to take on a pair of Ninth Circuit court decisions: In a pair of decisions issued last December, Public Utility District No. 1 of Snohomish County, WA v. FERC and California Public Utilities Commission v. FERC, the Ninth Circuit …
Case Involving Unilateral Modification to Power Contracts Heading to Supreme Court Read More »
Michael Giberson It seems I may have left off a critical point in my comment on regulation and the apparent rebirth of nuclear power. Following the insightful commentary in Loren Steffy’s column in the Houston Chronicle, I highlighted that in many cases stockholders would assume the risks of cost overruns or poor performance, rather than …
Michael Giberson A few months ago I posted notice here of the Arizona Corporation Commission’s decision to reject a proposed powerline from the middle of Arizona into southern California. Commissioners were saying things like they refused to “hurt Arizona utility customers to benefit Californians” and opposed the idea of becoming “an energy farm for California.” …
Arizona Commission’s Negative Power Line, Round Ii Read More »
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