Michael Giberson Craig Pirrong, blogging at Streetwise Professor, posts “Bug or Feature?, or Bootleggers and Baptists Go To Russia.” I have been told by people who were involved in the “gaming industry” in Russia pre-ban that even legal operations had to pay to survive. But “banning” the activity only enhances the authorities’ opportunities for personal …
Streetwise Professor: Bootleggers and Baptists in Russia Read More »
Michael Giberson The Martha’s Vineyard Times: A panel of judges sitting in the federal First Circuit Court of Appeals has upheld a lower court ruling that gasoline prices on Martha’s Vineyard have not been illegally inflated by a conspiracy among retailers, according to a report by “The Docket,” the news blog of Massachusetts Lawyers Weekly. …
Michael Giberson “By the Justice Department’s calculations, Keyspan’s anti-competitive actions resulted in it receiving almost $49 million. The settlement submitted by the Justice Department would let Keyspan keep $37 million from its anti-competitive actions. Netting $37 million for anti-competitive conduct is not a penalty, it is not a deterrent, it is a reward.” “Anything short …
Another Comment on United States V. Keyspan Corporation Read More »
Michael Giberson Looking for a thorough examination of the law with respect to fracking? This article, “American Law and Jurisprudence on Fracing,” appearing in the Rocky Mountain Mineral Law Foundation Journal looks pretty good. (Abstract of the article here; PDF of full article here.) From the conclusion: Given the size of the potential reserves made …
Michael Giberson Jason Maynard has produced a thesis examining “The Effects of Anti-Price Gouging Legislation on Supply Chain Dynamics“: Abstract: The purpose of this thesis is to model the effects of anti-price gouging (APG) legislation on the costs to businesses during the recovery period of a disaster. A system dynamics model of a business’s replenishment …
Effects of Anti-price Gouging Legislation on Supply Chain Dynamics Read More »
Michael Giberson Price gouging is “Evil Corporate Plot #1,235,086.” Story includes photographic evidence of the consequences of corporate wheeling and dealing. A gripping tale. (HT to Mungowitz at KPC.)
Michael Giberson What do we owe the status quo? Uwe Reinhardt, Economix, asks “How convincing is the case for free trade?” In his column, Reinhardt takes note of a few discussions of free trade without taking a stand himself. But he ends with a provocative quote from Alan Blinder: “If we economists stubbornly insist on chanting ‘free trade …
If Truth is What Your Freshmen Students Let You Get Away With, Then… Read More »
Michael Giberson A regulatory filing by Energy Futures Holdings Corp., the parent company of Luminant, a major power generator in the Texas market, provides a small peak behind the curtain of confidentiality that has limited the public’s view of what all went wrong on February 2. A small peak, but a significant story: In an …
Ercot Rolling Blackout News: Powerful Market Forces Already at Work Read More »
Michael Giberson Via Houston Chronicle‘s Fuel Fix, notice of hearings on the ERCOT blackout being held Tuesday morning, February 15. Live now and should be archived later. More information from FuelFix: Blackout investigations start up this week ERCOT blackout: Changes already made to emergency procedures UPDATE: A link to ERCOT CEO’s presentation to its board …
Ercot Blackout Hearings Underway in Texas State Senate Read More »
Michael Giberson We know that several Texas generators were unprepared for the possibility of severe cold on February 2, and now comes word that at least one retail electric provider was similarly unprepared for the possibility of price increases. ERCOT real-time power prices jumped to about $3000/MWh for most of the emergency period that morning. …
Good News and Bad News from Price-spike Induced Failure of Retail Power Company in Texas Read More »
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