Paul Krugman

@paulkrugman ↗

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Last Checked Feb. 17, 2021

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Wed Feb 17 13:18:28 +0000 2021

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Paul Krugman @paulkrugman

TX, unlike other states, doesn't have a capacity market to encourage reserve generation capacity, and its margins are a bit thinner than elsewhere. But as far as I can tell, not enough difference to have avoided this disaster 4/ https://t.co/BD9QXuhjgy — PolitiTweet.org

Posted Feb. 17, 2021

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Paul Krugman @paulkrugman

Some of us immediately flashed back to the CA crisis in 2000-1, brought on in large part by market manipulation, but no evidence so far of anything like this in TX currently 3/ https://t.co/KROxzvB0sP — PolitiTweet.org

I see speculation generators are deliberately shutting down to avoid paying for high natural gas spot prices, causi… https://t.co/Ph38eMIXEX

Posted Feb. 17, 2021

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Paul Krugman @paulkrugman

Will keep working on this. But so far the lesson seems to be that extreme weather events — which are becoming more common thanks to climate change — can overwhelm any system unless you take expensive precautions 5/ — PolitiTweet.org

Posted Feb. 17, 2021