February 25, 2021

Market and Financial News Aggregator

Texas Cold’Em: Power Outages Are Political

1 min read

Nine times Dallas has recorded daily snowfalls of 4 inches or more since 1940, but this week’s may be the first to be attributed to man-made climate change.

You ask, How do we know climate change is responsible? Answer: Shut up, denier.

Likewise because the weather inflicted painful blackouts on millions of voters, politicians hinted that market manipulation by energy traders may play a role. These manipulators will never be found. But shut up about that too.

Folks in the Northeast accustomed to weeklong outages may be surprised when Texans mostly have their power back in hours. Hundreds of downed power lines aren’t the problem as they are elsewhere. Texas winter blackouts come wholesale when generating plants trip offline due to conditions that will quickly be remedied when temperatures return to the 50s and 60s this weekend.

In fact, Texas has plenty of generation to keep its system from cracking even under summer air-conditioning demand, and more than enough in principle for a winter cold snap. Texas’s grid operator pledged to get to the bottom of why 34,000 megawatts nevertheless dropped offline, but we already know the answer because the same thing happened in 2011 and 1989.

2021-02-16 18:22:00

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