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Consumers: One. Energy speculators: Zero

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Texas’ Biggest Power Company Files For Bankruptcy http://n.pr/1rCj1mY

Forgive me, but I dont see this as a terribly bad thing. Lower energy prices for consumers while speculative high rollers get burned because they were betting prices would continue to rise. I feel bad for the rank and file employees who may lose their jobs, but thats about it. Millions of consumers are paying less for energy…and I’ll bet that Chapter 11 protection keeps the executive management team warm, dry (and handsomely compensated) regardless anyway.

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1 Comment

  1. We have public power where I live (Nebraska). Works well, prices are better than average. Back in the 1930s someone in this very conservative state got the idea that the power grid exists for public benefit, and not as another casino for speculators.

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