ERCOT gets OK to use high-voltage lines, creating Texas power superhighway
This story reminds me of Milton Friedman's four ways of spending money: "You can spend your own money on yourself. When you do that, why then you really watch out what you’re doing, and you try to get the most for your money. Then you can spend your own money on somebody else. For example, I buy a birthday present for someone. Well, then I’m not so careful about the content of the present, but I’m very careful about the cost. Then, I can spend somebody else’s money on myself. And if I spend somebody else’s money on myself, then I’m sure going to have a good lunch! Finally, I can spend somebody else’s money on somebody else. And if I spend somebody else’s money on somebody else, I’m not concerned about how much it is, and I’m not concerned about what I get. And that’s government."
Is it really "the right answer" per the linked story to spend an extra $2B or 25% more to upgrade the transmission backbone using 345,000-volt lines? I don't know. I also know that NOBODY knows. It's just guesswork. And who bears the risk of bad guesswork? Not those authorizing the spending. So, see the fourth way of spending money in the paragraph above.
This is why we are advocating for "Consumer Regulated Electricity" or CRE. By enabling the creation of new, independent, and competitive electric utilities, a true market would help make some of these decisions instead of government spending someone else's money, that is, your money and mine. Contact us to learn more about CRE and follow us right here on LinkedIn.
