The Great Texas Blackout: Storm Uri 2021
Ed. Note: This week features four posts on the Great Texas Blackout of February 2021, the greatest mal-coordination in U.S. energy history. Today’s introduction is followed by 1) a blackout prediction that came to pass 2) the fallacy of market failure 3) a 2025 MasterResource blog recap of the debate 4) a 2025 IER blog recap of the debate.
Market failure or government failure? The Great Texas Blackout of February 2021 (five years ago) is a case study that will forever be in debate. Why? Because the counterfactual–a real free market in electricity–was not present (versus ERCOT et al. statism). Still, never before had a ‘market failure’ of this type occurred in the U.S. electricity market, not even in the late 18th and early 19th centuries (the free market era) when the technology to prevent blackouts was much more primitive.…
The post The Great Texas Blackout: Storm Uri 2021 appeared first on Master Resource.
Source: https://www.masterresource.org/texas-blackout-2021/the-great-texas-blackout-5-years-revisited/
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