Counterpunch
Blackouts Happen
August 19, 2003
We are days after the latest big event and no one really knows what happened. That's because no one's actually in charge of the chaotic system that shuttles power to half of the nation. Welcome to the world of laissez-faire electricity. Follow the blinking hand.
No, it's not an energy crisis we face, but a crisis of accountability. Regulated monopolies were overthrown in the 1990s and replaced by unregulated monopolies who would much rather stuff their profits into dividends and gaudy executive bonuses rather than sink them into long term investments in an aging transmission grid.
http://www.counterpunch.org/stclair08192003.html