I don't expect a full apology from the Righties on this issue, but at least a partial apology is necessary.
Last winter there was serious market manipulation in the Western electricity markets. All of us sane people said this had to be happening.
As evidence of this continues to trickle out, the new story is "Yes, but it is the legislature's fault for passing a bad 'deregulation' bill which wasn't really deregulation."
I'll leave aside the deregulation argument for a later opus, but this entirely misses the point.
Obviously if the 'deregulation' bill allowed market manipulation it was a bad bill. Who was defending the bill back then? It is just that those of us who know we were getting scammed proposed a different solution to the problem - price caps. It would have worked. Energy was being sold way above the cost of production. Capping the price would not have diminished the willingness of the companies to provide it.
We can argue what form energy regulation or deregulation should take some other day. But, face it guys, last winter you were wrong. Fess up.
