Precisely illustrating a key failure point of the "free market" - it's ultimately reactionary, and completely sucks at preparing for unusual events (especially when it's squeezing every last penny out on "just in time"models of efficiency). It's why we can't let the "free market" wholly guide forward thinking energy policy. The "free market" has now "successfully" identified a weakness in the Texas energy grid. Thanks - that was useful!! 
However, the government is worse. First, they support the industries that contribute to their re-election campaigns. Where's the science in that? Example, in order to reduce pollution, the government mandated that 10% of gasoline contain ethanol which is made from corn. They did that to make the corn producers in the farm states happy under the guise they were reducing pollution.. But that not only increased the cost of gasoline. It increased the cost of food people eat as well because the cornfields were growing corn for gasoline rather than as feedstocks for food production.
The whole process becomes perverse when the government picks winners and losers. Free markets are more efficient and actually produce better products in the end. Just look at the TV, computer, cellphone, internet, and other technology markets. It's amazing what has happened due to free markets and competition. How about cameras? Even the rocket industry is making NASA obsolete.
Would you really want to fly in a plane built and maintained by Congress?