Honestly, how bad can the Democrats’ prospects be when Texas just voted for socialism? Granted, Proposition 7, a state constitutional amendment that won 65% support in Tuesday’s vote, sets up a niche kind of welfare. But it represents a heavy — no, clumsy — thumbing of the scales by a Texas government struggling to reconcile Republican ideology with science, safety and market-based principles.

Prop 7 establishes a “state energy fund” of $10 billion. Of that, $7.2 billion can be disbursed as low-interest loans or grants for either upgrading existing or building new thermal power plants — natural gas-fired, in practice — in Texas, $1 billion for new plants or wires outside the main state grid and $1.8 billion for microgrids to back up critical loads like hospitals. This is a state that experienced catastrophic blackouts in early 2021 and where the grid had several near misses this summer. As if on cue, the Electric Reliability Council of Texas, or Ercot, which operates the grid, had warned on Monday about possible “reserve capacity deficiency” on Wednesday.

QOSHE - Texas Is Fine With Socialism for the Natural Gas Business - Liam Denning
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Texas Is Fine With Socialism for the Natural Gas Business

30 0
08.11.2023

Honestly, how bad can the Democrats’ prospects be when Texas just voted for socialism? Granted, Proposition 7, a state constitutional amendment that won 65% support in Tuesday’s vote, sets up a niche kind of welfare. But it represents a heavy — no, clumsy — thumbing of........

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