Lambert (of Global Crossing Ltd.) reviews the recent history of energy market deregulation in the US, arguing that failure to understand the effect of the removal of price and entry constraints on network industries such as natural gas and electricity "is an invitation to manipulation, rent seeking, and, ultimately, unregulated monopoly." In addition to describing deregulation failures such as Enron's manipulation of the gas supply market and the implosion of the California electricity market, he also explores post-deregulation markets that he believes work, such as the Pennsylvania-New Jersey-Maryland Interconnection LLC, and makes the case for a mixed regulation-competition model. Annotation ©2006 Book News, Inc., Portland, OR (booknews.com)
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Jeremiah D. Lambert, a partner in Shook, Hardy & Bacon L.L.P., Washington, D.C., is a nationally recognized lawyer representing clients in the energy industry, including PJM Interconnection LLC. In recent years, he has focused on issues presented in connection with the restructured electric power market and has served as an advisor to the NYMEX in connection with electricity futures contracts. Mr. Lambert is a magna cum laude graduate of Princeton University and a member of Phi Beta Kappa, was a Fulbright Scholar at the University of Copenhagen, and is a graduate of Yale Law School, where he was an editor of the Yale Law Journal. He is a member of the District of Columbia and New York bars and is a biographee in Who's Who in America.
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