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India's Power Grid Fails for 2nd Day; 600 Million without Power

http://www.economicpolicyjournal.com...d-day-600.html
http://www.usatoday.com/news/world/s...age/56600520/1

Quote:

India's energy crisis cascaded over half the country Tuesday when three of its regional grids collapsed, leaving more than 600 million people without government-supplied electricity in one of the world's biggest-ever blackouts.

The massive failure ? a day after a similar, but smaller power failure ? has raised serious concerns about India's outdated infrastructure and the government's inability to meet its huge appetite for energy as the country aspires to become a regional economic superpower.

Quote:

Power Minister Sushil Kumar Shinde blamed the new collapse on states taking more than their allotted share of electricity.

"Everyone overdraws from the grid. Just this morning I held a meeting with power officials from the states and I gave directions that states that overdraw should be punished. We have given instructions that their power supply could be cut," he told reporters.

Wenzel:

Quote:

Whenever you here talk of "too much" of a product being used, it is a sure sign that market prices are not being allowed to adjust to supply and demand conditions and that price controls are in effect, distorting the picture.

If significant price inflation hits the US down the road, the implementation of price controls could be a very real possibility, causing shortages through out the economy.

Do we really need a new topic for this?

You share too much, we shut you down :2 cents:

Seems familiar. :1orglaugh

Now the Indian outsourcers will have a legit excuse for being late.

The point here is that India put in price controls on the power. With price controls in place, there were no market forces in order to keep the demand in balance with the supply. There is some talk of putting price controls in place here if power prices start to go up, and of course this will result in the same problems.

You guys are not seeing what U-bob is talking about, I guess.

.

There was a thread about it yesterday...

I betcha internet spam and tele-marketing phone calls have dropped by 98% world wide :P