All players share varying degrees of responsibility politicians, regulators, consumers and my own industry. It was decided long ago that the economic principles governing almost everything else in our free market economy need not apply to the business of energy. As a result energy consumers have been victimized by fear, ego and complacency. When I speak of fear, I refer to lack of political will the first of our patient s three problems. Government at all levels has been subject to intimidation and manipulation, much of it irrational and emotional.
Cowardice is a strong word, but at times, it borders on that.
As a result, investors otherwise inclined to allocate capital to the energy sector see business plans stifled by arbitrary red tape. They are in place largely to appease small bands of noisy extremists, or the economic and cultural elites. A case in point was written in my own company s blood, here in Washington. Dominion signed on as project developer. Environmentalists endorsed the plan.