Yet Another "Free Market Miracle"

Energy Secretary Spencer Abraham, speaking of the $50 Billion worth of needed upgrades to transmission systems in the aftermath of the Big Blackout, has declared that, "Rate-payers, obviously, will pay the bill because they're the ones who benefit. And that's where most of the responsibility, ultimately, will be assigned."

Obviously. Indeed, what could be more logical? The electrical grid is unilaterally deregulated, allowing private corporations with close connections to the White House to reap huge profits, while passing on associated costs to their customers. You know, it's right there on page one of the Free Market Bible: industry the public shall assume all the risks and costs of private property ownership, so is thus entitled to all none of the profits.

Posted by Eddie Tews at August 18, 2003 02:17 PM