This morning the Environmental Protection Agency released its report on new source review (NSR). NSR is a feature of Title 1 of the Clean Air Act, under which new power plants or refineries would have to meet more stringent abatement technology standards. Under interpretations of the Clean Air Act (that may have gotten stricter over …
The Epa Announces New Source Review Recommendations Read More »
California politicians, and others who want a clear, black-and-white, well-controlled, orderly world for electricity markets, are not going to like this. Federal Energy Regulatory Commission Pat Wood pointed out today that some wash trades might be legitimate. Electricity generators operate with pretty stringent delivery commitments because of the nature of electricity — it can’t be …
Don’t Let Complex Reality Interfere With What I Want Read More »
Many electricity economists, including me, have argued that Texas is the antidote to California. Although neither state has implemented what I would call deregulation, the Texas model is a far sight more flexible, enforceable, and in touch with economic reality than the dysfunctional policy failure we saw in California. Texas’ electricity “deregulation” is not a …
According to a Dow Jones Business News report on Yahoo Financial News, the Federal Energy Regulatory Commission is meeting behind closed doors today to discuss how to proceed with enforcement in wholesale electricity markets, in California and elsewhere. Worth watching …
This article does a decent job of laying out the issues in something that most people find pretty arcane, but is a crucial debate in electricity deregulation — repeal of the Public Utility Holding Company Act of 1935 (PUHCA). Actually, that article does a much better job of articulating the arguments against repeal of PUHCA, …
(Warning: this is a rant) OK … the antidote to my hopefulness. I just walked home from the el, which I took to work today because the rain threatened this morning and put me off of bicycling. Greenpeace has a bunch of their summer student employees out and about spreading the word about Mother Earth, …
This week is finals week at Northwestern, and that means that I get to read 11 research papers from my Environmental Economics class. Very good brain candy — I always learn something from their presentations, their evidence, and their arguments. If these students are representative of the future of environmental policymakers, I am hopeful.
I’m not going to get into the California market manipulation fray any further for now, beyond providing links to stories summarizing the issues and commenting on the continuing vituperative rhetoric of politicians in California, without any willingness to acknowledge that the rules of their dysfunctional “market” did not forbid any of these trades. At the …
Furthermore, the International Energy Agency announced today that it is revising its oil demand estimates downward for the second half of 2002. They cite the slow economic recovery as the primary reason for the revision. Slower oil demand growth increases the likelihood that prices will remain stable (all other things equal, of course). This pattern …
Lots of good oil market news today for consumers; a bit less good if energy stocks comprise a substantial share of your investments! A Platts survey of OPEC production shows a huge increase in May, according to a press release on Yahoo Financial News. Iraq coming back online and Venezuela increasing production after the oil …
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