UPDATE: As you can see from the time stamp on this post, I was working way too late last night to remember that GAO is General Accounting Office, not Government Accounting Office. Apologies for the slip, which has been corrected below. Well … back from celebrating my birthday and my sister-in-law’s graduation with my in-law …
Off to my sister-in-law’s graduate school graduation from Stanford; have a great weekend! LK
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 …
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 …
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