We should be putting that money into research and development to improve the technology.
More Quotes from Severin Borenstein:
In general, you have to have a pretty serious market power concern before you go down this road of price controls, because the chances of causing shortages and causing gas lines are quite significant. Hawaii seems to have designed this so it's much less likely to happen, and Hawaii has a credible argument to be made that they face a significant market power problem.Severin Borenstein
They are just the lucky beneficiaries of the tight world oil market.
Severin Borenstein
It looked like money down a rat hole. I can certainly see why they'd be cautious now. Just because you're making an extra 35 a barrel doesn't mean you should be pouring that into exploration.
Severin Borenstein
I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts.
Severin Borenstein
It's not like this is a gigantic change in the cost per mile of driving your car. That's why you won't see many people get rid of their cars or suddenly decide they can't drive to work anymore or will take the subway or whatever.
Severin Borenstein
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