Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: excardog who wrote (81443)	12/13/2000 12:00:43 AM
From: Douglas V. Fant	Read Replies (1) of 95453

excardog, I work on a lot of contracts linked to power deregulation- and what Kaiser did was a logical extension of a free and deregulated market. If you can make a large profit not producing for a few days- then why produce? The workers are still compensated as if no shutdown occurred. IMO every business should be able to make rational cash flow and power allocation decisions.... And... I find the decision triply humorous because about two months ago I worked with a certain refiner in the Pacific Northwest and helped them to set up some contracts by which they'd benefit significantly from any electricity price spikes, in the local mid-Columbia Index. They made a whole lot of money off of the recent electricity price spikes in the region. The only difference is that the refinery stayed open and running unlike Kaiser. Kaiser was a little too up front I guess, but why can say, an Enron gas trader speculate on power prices and a Kaiser Aluminum Plant may not?

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