Building America's electricity system was one of the great achievements of the twentieth century, providing inexpensive energy to homes and businesses throughout the country. But in the twenty-first century, two crises occurred. In 2001, California experienced massive electricity shortages, leading to rolling blackouts and skyrocketing electrical bills. And in 2003, a blackout swept across eight states in the Midwest and Northeast, leaving tens of millions in the dark. Why did these problems arise now, after a century of progress? Were they the result of ill-advised attempts to deregulate the utility industry? Or is more deregulation actually the solution?
Be careful when one uses the superlative case—best, most, -est, etc.—or evokes end-of-the-world imagery...
HOOVER INSTITUTION AND
STANFORD INSTITUTE FOR ECONOMIC POLICY RESEARCH