Ted Cruz calling for regulation of power pricing is today's πŸ‘€πŸ‘€πŸ‘€πŸ‘€πŸ‘€
Very different Ted Cruz on, say, health care regulations.
Can you imagine a Blumenthal-Cruz "power company customer bill of rights"???
Every jurisdiction that I'm aware of has some regs on essential utility prices, esp natural monopolies. (Water, power).

It's just, TX decided to cap prices at $9/kwh, let retailers pass on all of it to residential customers and failed to incentivize winterization.
A company might gamble that this year's or next year's or even the next 10 years might be warm enough to make the investment not worth it. But the consequences of failure are catastrophic; as @elonmusk would say, an unpriced externality.
In this case it might even be worse than an unpriced externality: failures caused prices to skyrocket so power producers made more money than ever before despite terrible service quality for the end user.

Higher prices/worse quality/etc.

β€’ β€’ β€’

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More from @StevenTDennis

16 Feb
I don't think e-verify outside of comprehensive immigration overhaul will get many Democratic votes. Now, *inside* of an immigration bill? Hmm...
Of course, hard to imagine any immigration bill Cotton backs would ever have Dem support, so...
Arkansas, btw, has an $11 minimum wage *right now* β€” more than 50% above the national minimum wage.

And yes, you can still get 2 cheeseburgers for $2 there.
Read 5 tweets
16 Feb
Electricity prices hit an astonishing *$9,000 a megawatt hour* β€” the highest allowed by the market β€” in Texas' energy crisis.

The juice in a 100 KWh Tesla Model S battery would have been worth ~$900!
Large fleets of EVs could eventually be a source of grid stability. Time pricing and, eventually, 2-way charging. May not be cost effective for homes but bus fleets, for example, are often just sitting at depots doing nothing when they could be making $ with grid services.
If you are worried about battery degradation, you just set the price you are willing to sell the extra juice in your bus to above battery replacement cost. (Surely well below $9,000 a megawatt hour!!!!)
Read 5 tweets
15 Feb
Thread of Republican senator statements on why they voted Guilty/Not Guilty on Trump's impeachment on incitement of insurrection 1/
Bill Cassidy:
"A president upholding his oath to 'preserve, protect, and defend the Constitution' would have activated the National Guard and told rioters to go home at the first opportunity. President Trump did not..." theadvocate.com/baton_rouge/op…
Read 62 tweets
14 Feb
Shocking COVID stat:

~1 out of every 400 residents in New Jersey dead
That's a worse ratio than any nation on Earth.
*8* U.S. states have reached the >1 in 500 resident COVID deaths milestone


A ninth, LA, is only a few deaths away.

USA as a whole has reached >1 in 700 dead
Read 4 tweets
14 Feb
MURKOWSKI issues a scorching statement on why she voted to convict Trump
Worth reading to the kicker.
Also notable that Murkowski is the only senator up in 2022 to vote to convict.
(A lot easier to go against Trump when you aren’t up until 2026.)
Read 7 tweets
13 Feb
Mitch McConnell arguing it's unconstitutional to try a former president after he announced Jan. 13 he would not allow a trial of Trump while he was president.
McConnell notes the House didn't send the article until after Trump left office β€” but that's because he had already issued a talk to the hand press release.
! McConnell said Trump "didn't get away with anything yet, YET."

Says former presidents are not immune from criminal prosecution or civil suits.
Read 6 tweets

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