On April 2, Ryan Sitton, one of three members of the Texas Railroad Commission, communicated with officials from Saudi Arabia and Russia about coordinating cuts in oil production. Just a few years ago, the notion that an American politician would talk with foreign producers about how to prop up oil prices would have been considered colluding with the enemy.
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The devastation being wrought by the coronavirus has underscored two undeniable facts. First: We were woefully unprepared for a black-swan event like this pandemic. Second: Modern society — our medical system, in particular — is completely dependent on the electric grid.
Stop me if you’ve heard this before: Renewable energy is getting so cheap that it doesn’t need subsidies anymore.