Indian power outages
Media reports tell us that 620 million in India have no power, due to widespread failure of the country's electricity grid. That's half the population of that country--and almost 10% of the world! And we on the East Coast of the US think we have power problems!
For the twenty years or so that I've been following India, the south Asian giant has been touted as being the next big thing for emerging market investors.
I think that everyone should be familiar with this issue - it is one that we will be facing in 20 years (or tomorrow if the weather continues) without heavy investment and predicable regulatory environment in the U.S.'s infrastructure. In other words, politicians, don't just talk about infrastructure investment:
- give private industry a reason to invest,
- get out of their way when they do,
- don't retroactively change the laws after the fact, and finally
- act now and don't just pontificate on the subject - Democrats and Republicans alike are guilty as charged.
