Jim MacTague writes at Barrons:
We’ve already seen what can unfold when the mercury nose-dives. During back-to-back cold snaps in New England last January and February, natural-gas prices rose from less than $5 per million BTUs to more than $30 per million BTUs in about two weeks. Concurrently, the price for electricity soared from about $40 per megawatt hour to more than $200 per megawatt hour…
LAST WEEK, THE ADMINISTRATION delayed the implementation of an Obamacare rule because it badly underestimated the impact of Obamacare rules on small business. The delay, in part was politically motivated. Because of hasty implementation of complex rules, Obamacare was going to engender employee layoffs in 2014, a midterm election year. That’s the last thing Democrats need. Perhaps this experience will cause the administration to be more circumspect and listen more closely to critics in regard to the great coal-to-gas switcheroo. Otherwise, I recommend cornering the market for flashlight batteries.
Thse rules won’t go into effect until after the midterm elections. He can screw up the power generation system and the economy and not affect the 2014 and probably the 2016 elections. Also, do you think Obama really cares about who gets elected after he leaves office?
What does the WH know about power generation? How about letting the market sort it out?
Generally speaking, if Obama is in favor of something, it’s a bad idea. If he opposes it, it’s a good idea. Very few exceptions so far.