Some Liberals fantasize about how they could change the world for the better if only they owned a multi-million dollar company. They dream of having substantial influence over society as a whole and not just a specific market. Then, to their despair, the Liberal wakes up and realizes that it’s hard work running such a massive and influential business.
What would happen if those same Liberals were in positions of power where they could create policies to “run” multi-million dollar companies that they don’t own? Believe it or not, in some states, they can.
One example of this phenomena can be seen with the ramifications of overregulating electric companies in Left-Wing states like California.
Specifically, the fires caused by faulty Pacific Gas and Electric (PG&E) assets (old transformers and cables) weren’t entirely the company’s fault. While it is true that PG&E spent $1.5 billion on updating pre-existing infrastructure in 2017, corners were cut and some areas were overlooked. The utility company is certainly responsible for wildfires like 2018’s Camp Fire and this year’s Kincade Fire. This leaves them open to liability claims that nearly bankrupted them earlier this year.
However, California Dems believe that making investments into wind and solar on the backs of companies like PG&E and SDG&E mandatory will fix everything wrong in the world. So, they forced these companies to invest billions into solar and wind power in recent years. The simple fact is that utility companies are unintentionally stretched thin when forced to spend nearly twice as much on new projects rather than focusing on making their old infrastructure safer and more reliable.
This is what happens when Liberals attempt to vicariously live out their CEO fantasies on someone else’s dime.
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