this post was submitted on 19 May 2024
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Cartels love industries with inelastic demand.
Markets aren't magic. Prices are a consequence of human decisions. And if you can withhold electricity from the grid to maximize returns (by forming a cartel with other producers) you can drive those prices up when people can least afford to reduce consumption.
Isn't it tonnes of different people, farmers and such. Too many for a cartel to form. Reducing supply is just going to mean to make less money.
Batteries are making the grid a lot more elastic.
Farmers and such are not selling power on the Texas wholesale electric grid, no.
Because fossil fuel supplies are limited, you can often make more money selling a small amount onto the market at a high price than a large amount onto the market at a low price.
Some people ideas of capitalism are so warped.
If there is an energy cartel report them.
I'll notify Ken Paxton right away. I'm sure he'll get right on it.
Well done. Don't forgot to attach your evidence.