In Brief: A Texas-Sized Energy Fiasco

Is it really the Inflation Acceleration Act? Subsidies to offset other subsidies don’t save anyone money. Climate groupthink strikes again.

PA Pundits International

Austin passes subsidies for gas power to counter wind-power subsidies that have destabilized the state electric grid.

We all remember the great Texas power outages a couple of years back, and Texans more than most. That doesn’t mean their elected representatives are learning the right lessons, as the editorial board of The Wall Street Journal notes.

What a mess. Renewable subsidies have distorted and destabilized the Texas electric grid, which resulted in a week-long power outage during the February 2021 freeze. To prevent more blackouts, Republicans in the Lone Star State now plan to subsidize gas power plants.

The Texas Senate last week passed putative energy reforms to “level the playing field,” as Lt. Gov. Dan Patrick put it. Texans will now spend tens of billions of dollars to bolster natural-gas plants that provide reliable power but can’t make money because of competition from…

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via Tallbloke’s Talkshop

April 26, 2023 at 01:07PM

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