Public utilities are a big reason the American Society of Civil Engineers estimates we have a multi-trillion backlog of infrastructure capital expenditures. Th

Public utilities are a big reason the American Society of Civil Engineers estimates we have a multi-trillion backlog of infrastructure capital expenditures. That's an interesting notion, given that market pressure would be to invest as little as one possible can while extracting as much cash as possible. I certainly have the impression that, in Sweden, the public utilities, which were making sure the power grid had adequate excess capacity and good reliability because this infrastructure is in the "national interest" did a much better job in that respect than the market-based solution. There is simply no comparison between power reliability in the U.S. and in Sweden.