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by
Art Berman
It’s difficult to deny that competition makes markets economically efficient.
But it’s less clear that this works out well for the public when it comes to the dependability and resilience of essential services like electric power, as the Texas freeze recently proved.
Almost 8 million Texans lost power and 13 million had no water from February 15 through February 19 because of extreme cold weather.
The storm was no surprise yet by early morning on February 15, net generation dropped 15 GW (gigawatt hours) from 68 to 53 GW . By early evening, it had fallen another 9 GW to 44 GW (Figure 1).
Meanwhile, demand stood at more than 75 GW so supply was only about 65% of estimated demand. The result was loss of electric power to millions of homes. Much of the state’s water relies on electric pumps to move it through pipelines. When electric power was lost, pumps stopped working and there were shortages of water. Insurance losses of are estimated at $18 billion mostly from water damage because of broken pipes.
According to critics, a chief cause of Texas’ grid failure was…
‘Efficient’ Does Not Equal ‘Resilient’
PREVIEW by Art BermanIt’s difficult to deny that competition makes markets economically efficient.
But it’s less clear that this works out well for the public when it comes to the dependability and resilience of essential services like electric power, as the Texas freeze recently proved.
Almost 8 million Texans lost power and 13 million had no water from February 15 through February 19 because of extreme cold weather.
The storm was no surprise yet by early morning on February 15, net generation dropped 15 GW (gigawatt hours) from 68 to 53 GW . By early evening, it had fallen another 9 GW to 44 GW (Figure 1).
Meanwhile, demand stood at more than 75 GW so supply was only about 65% of estimated demand. The result was loss of electric power to millions of homes. Much of the state’s water relies on electric pumps to move it through pipelines. When electric power was lost, pumps stopped working and there were shortages of water. Insurance losses of are estimated at $18 billion mostly from water damage because of broken pipes.
According to critics, a chief cause of Texas’ grid failure was…
by
Adam Taggart
by
Adam Taggart
by
Adam Taggart
by
Chris Martenson
Executive Summary
- The incredible correlation between Economy & Energy
- Why limits matter (and will matter more in the coming years)
- The coming, unsolvable collision of our Economic, Energy & Environmental systems
- The looming deadline: Why you need to take action before June 2021
If you have not yet read Part 1: Losing Hope? Focus On Gaining Life Instead., available free to all readers, please click here to read it first.
After a dozen years of research and inquiry, I’ve come to a major set of conclusions: There’s a massive economic crisis coming. And an energy crisis. They are conjoined and each will juice the destructive effects of the other. Oh, and there’s also an ecological crisis, which is similarly intertwined with the other two.
After watching the utter inability of our national “leaders” to properly manage the basics in their response to the pandemic, I simply don’t think we’ve got the ability to sort through the complexities and subtleties of navigating three gigantic, inter-related crises.
Which means it’s up to us — to become resilient and prepared at the individual level.
First, and most important, each of us needs to start by…
_______________
Why is this full report restricted to Peak Prosperity’s premium subscribers? Two main reasons:
One — we reserve our best analysis and most directive guidance for the paying members whose financial support makes operating this site possible. Also, given that some of this material is our “best guess” thinking or can be overly revealing of the details of our personal actions, we’re only willing to share that with this private audience. We wouldn’t feel comfortable having that level of speculative/private information out in the public realm.
And Two — one of the many benefits of premium membership is closer access to the experts on this site.
If you’re not yet a premium member but would like to become one and access this full report, as well as *all* of our premium content, click the button below to subscribe:
Get Ready: Here’s What’s Coming
PREVIEW by Chris MartensonExecutive Summary
- The incredible correlation between Economy & Energy
- Why limits matter (and will matter more in the coming years)
- The coming, unsolvable collision of our Economic, Energy & Environmental systems
- The looming deadline: Why you need to take action before June 2021
If you have not yet read Part 1: Losing Hope? Focus On Gaining Life Instead., available free to all readers, please click here to read it first.
After a dozen years of research and inquiry, I’ve come to a major set of conclusions: There’s a massive economic crisis coming. And an energy crisis. They are conjoined and each will juice the destructive effects of the other. Oh, and there’s also an ecological crisis, which is similarly intertwined with the other two.
After watching the utter inability of our national “leaders” to properly manage the basics in their response to the pandemic, I simply don’t think we’ve got the ability to sort through the complexities and subtleties of navigating three gigantic, inter-related crises.
Which means it’s up to us — to become resilient and prepared at the individual level.
First, and most important, each of us needs to start by…
_______________
Why is this full report restricted to Peak Prosperity’s premium subscribers? Two main reasons:
One — we reserve our best analysis and most directive guidance for the paying members whose financial support makes operating this site possible. Also, given that some of this material is our “best guess” thinking or can be overly revealing of the details of our personal actions, we’re only willing to share that with this private audience. We wouldn’t feel comfortable having that level of speculative/private information out in the public realm.
And Two — one of the many benefits of premium membership is closer access to the experts on this site.
If you’re not yet a premium member but would like to become one and access this full report, as well as *all* of our premium content, click the button below to subscribe:
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