The MS River – Winning
At the height of the nuclear arms race, the U.S. and the old USSR reached stalemate. Mutually Assured Destruction. Each side could destroy the other. So, neither launched the first missile. Both eventually reduced their arsenals. No nuclear disasters so far. (“Dr. Strangelove” was fiction.)
The Mississippi River crested over nine feet above flood stage at Natchez on March 17 — higher than the epic 1927 flood which put the U.S. Army Corps of Engineers in the flood control business. The 2011 crest was even higher. Four of the five highest floods have happened since 2008.
What do Venezuela, Cuba, and the Kemper County Lignite Plant have in common? Answer: central planning. The first two are basket case countries that were once prosperous. They are victims of communism and socialism and centrally planned economies run by government experts.
The Mississippi Legislature is choosing sides in the fight between Mississippi’s attorney general and Public Service Commission. The fight is over $600 million of over-charges by Entergy Mississippi to its customers for high cost electricity from its sister companies in other states.
“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.” The Big Short, a movie based on the Michael Lewis book about the sub-prime meltdown, opens with this quote. And attributes it to Mark Twain. It sounds like Mark Twain. He could have said it or written it. But it appears he didn’t.
Einstein is said to have said: “Insanity is doing the same thing over and over, and expecting different outcomes.” This was the lede in an earlier article about public education. (Fortunately, education is changing.) It also applies to the Mississippi Public Service Commission and the Mississippi Legislature.
The Mississippi Public Service Commission finally drove a stake through the gasifier heart of the Kemper County Lignite Plant. So customers won’t pay for most of its $7 billion cost. But the PSC may allow $300 million more in gasifier collateral costs for its turbines running on natural gas. These toes are still sticking up.