A reminder of what is at stake for the power industry in all the wrenching news from Wall Street.

The Street's very own Journal, reminds us this a.m. that energy "the third largest borrower after government and finance - relies on debt to finance at least half the cost of building power plants."

The folks that keep the lights on are worried, glued to their CNBCs. In case you haven't heard, HEARD ON THE STREET tells us, Dynegy shares have lost half their value in the past month. More on the ramifications of that to the Houston generating giant is slated to be covered in EnergyBiz in an upcoming issue.

Bottom line, if credit markets remain frozen, utilities will be in a world of hurt, fast. And if energy shortages lead to rising power prices, our economy's downward spiral can be accelerated.

As a journalist, I use the WSJ and NY Times as daily touchstones. Usually, I can expect one good article a day from each of them to ponder when considering the short and long-term directions of our energy economy. A sign of the turbulent times, today's WSJ had three intriguing pieces in addition to the one cited above.

Credit Crunch and Sinking Prices Threaten Chesapeake Energy's Growth

Indian Tribes See Profit in Harnessing the Wind for Power

And a presidential piece, 2 Endorsements of Nuclear Power, but Sharp Differences on Details

What does it all add up to? Enormous changes will sweep across the power industry, along with the rest of the economy. New players will emerge - and old players will take new positions. Thrilling. Gut-churning. In short, everything that a roller-coaster ride should be.

The only difference is that in the Amusement Park we now have entered, the stakes are no less than the future of the American dream.