2min chapter

Cleaning Up: Leadership in an Age of Climate Change cover image

Yanis Varoufakis: Power, Markets & Power Markets - Ep104

Cleaning Up: Leadership in an Age of Climate Change

CHAPTER

Is the State Owning the Resources?

So the state would own some very big resources. And in a sense, could set the price because if anybody tries to profiteer, they can just kind of dump some power. So does that mean that they're running those resources or are they keeping themKind of in reserve, ready to dump if anybody, you know, if the market misbehaves? Are they Saudi, like Saudi Arabia in the oil markets? Both it depends on their circumstance, depends on demand conditions, supply conditions and how the system is running. If the system can run without those large power generators functioning, then you keep them in reserve. You don't use them until you have to.

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