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Edit: We don't always let people pay "market price" for whatever they want. There's plenty of precedent for rationing: IE, In CA, it doesn't matter how rich you are, you can't water your lawn in a drought. During the 1970s oil embargo, it didn't matter how rich you were, you still had to ration gasoline.
In this case, cryptocurrency is both increasing the cost of electricity for other important needs, like home heating / cooling, and increasing pollution. It's perfectly within the definition of what government does to set reasonable limits for the cryptocurrency industry.
Yes, this policy is stupid. If the cost of water rose in response to scarcity, then it would incentivize institutions to build things to alleviate said scarcity and consumers would shift usage habits. Some people would move, some people would build desalination plants. Price fixes are the worst possible choice to a resource scarcity.
That is exactly what happens in CA now.
Secondly, coal powered electricity in the central Atlantic States is a bastion of insider politics linked to law enforcement. They have their national leader in U.S. Joe Senator Manchin.
Where exactly does this "good governance" theory lead when government is captured like this over decades? There is no new perfect government available to run this setup. Government can collect information and then what?
I'm not exactly sure what you're arguing. Do you think that prohibiting the government from collecting data about utilities will help them regulate them more effectively? I don't really think that's the case.
The reason that some want to limit the data that is collected is exactly the regulatory capture problem you're referring to. Private industry doesn't want data being captured which sheds light on any issues they're causing. No news is good news for those who have attained regulatory capture.
no
> The reason that some want to limit the data that is collected is exactly the regulatory capture problem you're referring to.
no, there is not a single reason.. it is a role-based system of systems, and players have incentives, abilities and weakness, each, that are different
> Private industry doesn't want data being captured which sheds light on any issues they're causing.
mostly yes, but there are odd layer effects where "resolving liability" is preferred, or "legal obligations" that are not going away, leads to negotiation.
I do not know the answer. Regulatory capture is real and I give examples of it. Absolute power corrupts absolutely, in both government and utility management. Things are going badly.