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b'In this episode, host Daniel Raimi talks with Severin Borenstein, a professor at the University of California at Berkeley\\u2019s Haas School of Business, faculty director of the Energy Institute at Haas, and member of the Board of Governors of the California Independent System Operator. As the state of Texas struggles to keep the lights on due to extreme cold, Raimi asks Borenstein about lessons learned from California\\u2019s blackouts during the summer of 2020: the cause of the outages, the role of renewables, and market reforms that could help reduce the risk of blackouts in the future. Raimi and Borenstein also discuss how California\\u2019s experience can help Texas and other regional electricity networks plan for a future with more renewable power.\\n\\nReferences and recommendations:\\n\\n\\u201cAn empirical analysis of the potential for market power in California\\u2019s electricity industry\\u201d by Severin Borenstein and James Bushnell; http://faculty.haas.berkeley.edu/borenste/download/JIE99Cournot.pdf\\n\\n\\u201cMeasuring Market Inefficiencies in California\\u2019s Restructured Wholesale Electricity Market\\u201d by Severin Borenstein, James B. Bushnell, and Frank A. Wolak; http://faculty.haas.berkeley.edu/borenste/download/AER02BBW.pdf\\n\\n\\u201cCapacity Markets at a Crossroads\\u201d by James Bushnell, Michaela Flagg, and Erin Mansur; https://haas.berkeley.edu/wp-content/uploads/WP278.pdf\\n\\n\\u201cThe Box: How the Shipping Container Made the World Smaller and the World Economy Bigger\\u201d by Marc Levinson; https://press.princeton.edu/books/paperback/9780691170817/the-box\\n\\n\\u201cThe Bet: Paul Ehrlich, Julian Simon, and Our Gamble over Earth\\u2019s Future\\u201d by Paul Sabin; https://yalebooks.yale.edu/book/9780300198973/bet\\n\\n\\u201cUnder a White Sky\\u201d by Elizabeth Kolbert; https://www.penguinrandomhouse.com/books/617060/under-a-white-sky-by-elizabeth-kolbert/'