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PRESS RELEASE


Energy Secretary Perry Asserts National Energy Security Interest Over Wall Street’s Rigged Market

Oct. 4, 2017 (EIRNS)—Secretary of Energy Rick Perry sent an eight-page letter to the Federal Energy Regulatory Commission (FERC) on Sept. 28, instructing them to adopt changes in the rules governing energy pricing in order to prevent U.S. nuclear and coal plants from going bankrupt under current Wall Street policies, and thus ensure that the United States has a reliable, resilent national electric grid, which functions day-to-day and in the face of disasters, natural and man-made.

What Perry proposes is a "parity policy" for energy, under which electricity prices reflect the cost of production of reliable energy. His proposed "rule requires the organized markets to establish just and reasonable rate tariffs for full recovery of costs and a fair rate of return."

Nuclear plants, for example, have been shutting down across the country, because, under Enron-styled "free market" rules, they have been forced to financially "compete" with heavily subsidized "renewables" which only provide energy when the sun shines or the wind blows, and with fracked natural gas.

Perry warned that "the resiliency of the electric grid is threatened by the premature retirement of ... fuel-secure traditional baseload resources" such as coal and nuclear.

"In the wake of the devastation wrought by the Polar Vortex [of 2014], Superstorm Sandy, and Hurricanes Harvey, Irma and Maria... it is especially urgent to prevent premature retirements of the resources"

which can

"keep the lights on for all Americans in times of crisis. Those industries take a long lead time to build up, and it is critical to ensure the technical expertise is there to maintain them; if ... we lose our educated workforce or no longer have the ability to build and operate our baseload plants because of short-sighted policies, it will not only weaken our workforce, but will threaten our energy dominance and national security."

Perry invoked a basic principle:

"Ensuring that American families and their businesses have access to reliable, resilient and affordable electricity is vital to the economy, national security and quality of life. From heating homes in the winter to cooling them in the summer, providing lighted streets so people can walk safely at night, powering machines and technology that create jobs, and connecting us through smart phones and the internet—electricity is a key driver of America’s economic prosperity and the basic necessities of life. Our economy, government and national defense all depend on electricity. Therefore, ensuring a reliable and resilient electric supply and corresponding supply chain are vital to national security."

The Wall Street protection racket is gearing up the tired old lie which should have died with Enron, that "interfering" with the market to secure reliable energy is against consumer interests and raises electricity prices. Top among these idiots is New York Attorney General (and anti-Trump fanatic) Eric Schneiderman, who promised that

"my office will forcefully oppose this and other efforts of the Trump administration to put the interests of special interests ahead of the health, safety, and wallets of New Yorkers."