Michael Giberson
@MichaelGiberso3
Economics, Electric power markets, US energy policy. Pro-market. Senior Fellow, Energy @RSI. Prior: Texas Tech U, Potomac Economics, GMU PhD.
Republicans might be interested to know that after decades in office both Sen. Reed Smoot and Rep. Willis Hawley lost reelection bids in 1932 as the harm of the 1930’s Smoot-Hawley tariff became clear. 💀💀Hawley didn’t even get renominated by the Republicans in his district. 🤡
An interesting thing about NY Governor Kathy Hochul’s nuclear plant announcement, besides neglecting to mention who will pay for it, is the 29 endorsement quotes from interested parties. That’s a lot of groups expecting to get paid more than they pay. governor.ny.gov/news/governor-…
“Batteries, how do they work?”
Thiessen: Just so people understand wind and solar only work when there is wind and sun. We don't have technology to store the energy from wind and solar…
Appalachian Power lost $81 million operating its three WV coal plants in the 12 months ending in February, according to new PSC testimony. That's double what the company previously disclosed. wvpublic.org/story/energy-e…
There’s something deeply unsettling about a president directing foreign countries where to invest in the U.S. economy in exchange for tariff relief. It feels like economic extortion dressed up as industrial planning. Markets—not the president—should allocate capital.
Secretary @HowardLutnick breaks down how Japan lowered their tariff rate on cars by investing $500B into American projects: "The Japanese have bought the ability to be down to 15%, and then @POTUS can invest in the projects he thinks are the most important for America."
The DOE just terminated a $4.9 billion loan guarantee that is likely to kill the largest planned transmission project in America. Cancelling this loan guarantee is one more sign that the Trump administration isn't serious about "energy dominance."
And see Mike's great piece here on the WSJ's analysis
WSJ: "The claim that [renewable] tax credits reduce electric rates is contradicted by experience.... All of this is why Texas’s residential power prices have risen some 40% over the last seven years." Chart shows change in average rates in TX, AL, MS, and WV over last 7 years.
Venezuelan economist Gabriela Saade once gave me a purse woven from bolivars (40,000 worth). The price: $3 It was an unforgettable symbol of hyper-inflation and I think of it whenever challenges to Jerome Powell and Federal Reserve Independence come up. bloomberg.com/news/newslette…
While many would likely point to fracking and directional drilling technologies that have massively unlocked US oil and gas resources, they would be missing the forest for the trees. @TheNatlInterest
Customers deserve an opportunity to express a choice in their electricity use, but they need opportunities and options to choose. @UtilityDive @kchan55 @venerable_bede @MichaelGiberso3