Don't the power companies forward buy gas/oil/coal so they have a decent buffer in stock against such events?

What the vaccine debacle tells us about predatory capitalism

The botched COVID-19 vaccination campaign is a great illustration of why our current capitalist system does not work.
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As a recent article published in the leading medical journal The Lancet concludes, “new vaccines will mean little to individuals around the world if they are unable to get vaccinated in a timely manner”.
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only a few of the world’s richest countries are expected to achieve herd immunity before the end of the summer. Meanwhile, new virus mutations continue to emerge, putting into question the effectiveness of existing vaccines.
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Some have put the blame for the vaccine debacle on the cumbersome bureaucracy of governments and on anti-vaxxer sentiments. But the root of the problem lies elsewhere. It has to do with a dysfunctional global economic system propped up by three ideological myths: that the private sector is best at innovation; that unregulated markets are best at managing supply and demand; and that the outcome of globalisation is fair for all.
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Myth one: The private sector is the best innovator

For decades, vaccines have been de-prioritised by the industry as insufficiently profitable.
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The claim that private companies are best at innovation is further eroded by the fact that at least two state-owned companies, Russia’s Gamaleya Institute and China’s Sinopharm, were successful in developing effective vaccines.
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Myth two: The invisible hand of the market is effective

Another capitalist myth is that competitive markets are the best regulators of supply and demand and the best at achieving the optimal distribution of goods. In early 2020, we witnessed the dark side of this fable, as countries started to outbid each other for vital medical equipment, such as PPE and ventilators.

Demand was high across the board, but supply only went to the wealthy few, at the price of many human lives
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The World Health Organization (WHO) has called it “vaccine nationalism”, but what it really is is vaccine capitalism. Countries are rushing to outbid each other on vaccines because there is an inadequate supply, and there is inadequate supply because pharmaceutical companies are allowed not to share their inventions with the world.
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Myth three: Capitalist globalisation is fair

The third key myth of late-stage capitalism that is now unravelling portrays globalisation as equally beneficial for all. But a cursory look at the global distribution of vaccines shows that this is far not the case.

As Western countries are able to acquire vaccines, albeit at different pace, many other parts of the world have not even started their vaccination campaigns. Even emerging economies – some of which served as the testing ground for the vaccines – are struggling with limited supply.

As a result of this global inequality in vaccine distribution, we are not only facing what WHO Director General Tedros Ghebreyesus has called a “catastrophic moral failure”, but also an inevitable global economic disaster. Economists are already warning that an uneven global vaccine roll-out would be much costlier for wealthy countries than a coordinated deployment of vaccines.

If the current immunisation inequality persists, the deployment of vaccines in wealthier countries can become close to useless. Even if herd immunity is achieved in some countries, persistent outbreaks in others will continue to disrupt travel and global supply chains. One study suggests that if there is no serious global effort for an equitable vaccination campaign, this could cost developed countries $4.5 trillion.

The World Health Organization (WHO) has called it “vaccine nationalism”, but what it really is is vaccine capitalism. Countries are rushing to outbid each other on vaccines because there is an inadequate supply, and there is inadequate supply because pharmaceutical companies are allowed not to share their inventions with the world

... Brainless...

Wow, no comment about the photo taker?
You have never made an error of judgement?

No wonder fake news is so prominent these days.
Suggestions are not evidence.

Actions are indeed very suggestive.

Actions are indeed very suggestive.

Like why the photo was taken in the 1st place. :-)

Why an old photo would be leaked now and who took it remain questions for an inquiry by the Irish Horseracing Regulatory Board.