The Downfall of the Texas Electric Grid (Guest: Bill Peacock)
Politicians interference in energy markets led to the failure of Texas’ energy grid during the polar vortex. Bill Peacock explains what went wrong.
Texas politicians and regulators interference in energy markets resulted in the closure of baseload bearing coal fueled power plants and the rise of intermittent wind and solar energy. This contributed to Texas' energy collapse during the polar vortex. Wind and solar failed just as the state's power system needed them the most. Energy subsidies made wind and solar seem cheap and drove coal and some natural gas plants out of business. Had politicians not mandated and subsidized green energy, eight million Texans would not have lost their power.