What can FERC do to prevent blackouts elsewhere?
One of the things we’ve done is start a regional road show on infrastructure. It’s an effort to get all the relevant people together–from the public side and the private side. That’s where the capital comes from to upgrade the grid, the pipeline network, build power plants, and add new technology to make it all more efficient. We say, “O.K., this is what the next 10 years looks like–population growth, economic growth, demands for power and gas, and so on. Here are the tools we’ve got. Let’s do something about it.” Q: And the reaction? A: Positive. I found in Texas the government doesn’t need to do much if you can simply act as a catalyst. We were facing a tight crunch in 1998. But as a result of the steps we took, investment came to the state. For the coming summer, it looks like Texas will have a 30% excess supply cushion over the hottest day’s needs. I’m willing to bet that nationally, the market will react with good solutions in a timely manner. Q: Yet just because private investo
