Association Webinars: The Texas Grid Failure



I will discuss how our 2013 forecast of the Texas grid failure was developed, and then realized in 2021. It was not an engineer’s or lawyer’s or regulator’s analysis. It was simple microeconomics and drew from prior work by economists Tjalling Koopmans, Paul MacAvoy, Paul Joskow, John Nash, Martin Shubik, and Stephen Ross-and just doing the homework. The cure will be vastly more expensive than the prevention.


Ed Hirs is a Co-Founder of Zero Carbon Cycle LLC, a renewable diesel company, UH Energy Fellow at the University of Houston where he teaches energy economics, advisory director to quant-driven hedge fund OIS Capital, and advisory director to the wine and spirits importer BCI Bonneté. Ed is an advisory director to the Energy Industries Council and a director of the French American Chamber of Commerce—Texas. Ed is a Forbes contributor and Energy Expert for KHOU TV in Houston. He is widely quoted and an internationally recognized energy economist writing on energy markets, the energy transition and ESG considerations. He founded and co-chairs an annual energy conference at Yale University.

His degrees are from Yale University: BA with honors and Distinction in Economics, MA in Economics, and MBA. Ed holds the CFA designation.


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