Although it hasn’t attracted much attention outside the business pages, Energy Future Holdings, the largest utility in Texas, is going through the biggest bankruptcy proceeding since the collapse of Chrysler five years ago.

The story does not bode well for the future of American utilities. Instead it sheds light President Obama’s bizarre notion that the nation can shut down coal plants and replace them with “energy from sun, wind and soil” without suffering the kind of brutal economic consequences now being experienced in Japan and German.

Keep reading at The American Spectator