Winter Warning to Biden Administration (New England energy shortages ahead?)
By Robert Bradley Jr. -- November 15, 2022
“Natural gas shortages and reliability concerns in New England are neither short-term, nor unanticipated…. ISO-New England and the Federal Energy Regulatory Commission have for many months called attention to the very real reliability issues likely to face the region in the coming winter months due to insufficient supply of natural gas.”
“New England power plants generated an estimated 4.18 million metric tons of CO2 in January 2022, up from 2.77 million metric tons in January 2021, with the region’s heavier reliance on oil accounting for most of the difference.” (INGAA, below)
Government intervention creates emergencies and shortages unlike self-interested transactions within a true free market. This was true a century ago with World War I planning; and it remains true today.
The 1970s oil and gas shortages should have taught politicians that price and allocation controls do not work. Infrastructure obstructionism can cause price spikes and physical shortages too, as demand outraces supply.
https://www.masterresource.org/new-england-energy-policy/72348/
