I’m David Fessler. You may have seen me before on the Fox News Channel. Or perhaps you’ve read some of my research at InvestmentU.com or The Oxford Club.
For over 35 years, I’ve dedicated my life to the study of electricity and energy.
Today I travel the country educating the public on energy and the state of the grid.
I’ve been warning about this situation for years. But now it’s more dire than ever… And it could come to a head within days.
You see, over the past 5 years, electricity blackouts have skyrocketed across America.
Using data from the North American Electric Reliability Corporation and the Electric Power Research Institute, it’s suggested that major blackouts have soared as much as 18,836%.
Yet you probably have no idea just how bad things are.
Just think… What would happen if all of a sudden, the number of collapsed bridges and roads in America jumped almost 19-fold in just five years?
The American public would demand the government fix every road across the country.
But that’s the thing with electricity.
You can’t see it or touch it.
For most of us, the only time we notice it is when we don’t have it. And unfortunately, in the next few months, that could very well be the case for you.
Because neither the federal government nor the utility companies have done nearly enough to fix this situation.
If anything, they’ve fast tracked this coming disaster.
For the last 30 years, the entire electric industry has been in shambles. Clashing government policies have left no one with real financial ownership of the grid.
As a result, an unbelievable lack of investment has occurred.
Just look at this chart to the right…
Since 1982, demand for electricity has outpaced new transmission growth in the grid by almost 25% every year.
If fact, things are so bad today that most of the vital equipment that runs the grid – power transformers, transmission lines and utility poles – are decades beyond the end of their projected life spans.
One major area of concern?
The entire northeastern portion of the United States.
(See Left) This chart from the Department of Energy confirms New York City, Philadelphia, Baltimore and Washington D.C. are all “critical congestion areas” for the grid.
We’re talking about the epicenter of our country’s financial industry… and the capital of the U.S.A.… at risk of shutting down and closing for business in a matter of moments… and who knows for how long.
It’s happened before too.
In 2003, an electricity blackout affected over 50 million people from New York to Michigan in just 3 minutes.
In 2006, a major blackout in Queens, New York left hundreds of thousands of people without power for an entire week.
New York’s utility company, Consolidated Edison (Con-Ed), has warned that another major blackout could very well be just around the corner. Only this time, it’s set to be much worse.
Con-Ed’s CEO has even admitted demand for electricity is growing so fast in New York, the city is set to outgrow its grid completely in just the next few years. And the worst part is… there’s no space left to add more supply.
But this problem isn’t just in the Northeast… it’s happening all over the country.
Seattle, Portland, Los Angeles, San Diego, San Francisco… The list goes on and on.
In California, Congressman Tom McClintock warned just a few weeks ago, “We can’t guarantee enough electricity to keep refrigerators running this summer.” Can you imagine?
The American Society of Civil Engineers sees the writing on the wall. It gave the grid a “D” on its latest report card, citing an extremely “urgent need of modernization.”
Still, hardly anything is being done.
And it’s even worse once you realize that when this disaster strikes it will do much more than power off homes and businesses.
It could also decimate your savings.