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Technology Stocks : The *NEW* Frank Coluccio Technology Forum
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To: Theophile who wrote (1726)1/14/2001 4:05:40 PM
From: Hawkmoon  Read Replies (1) of 46821
 
Funny thing about the natural gas doubling in price at the very moment the power shortages are in vogue...

Well, why don't you take a trip to 1600 Pennsylvania Ave and tell our outgoing president that most people don't think the joke is that funny.

A combination of NIMBY (not in my back yard) public attitudes, p*ss-poor governmental economic inftrastructure development, and illogical environmental radicalism have converged "in spades" in California. And unfortunately, CA represents some 18% of total US GDP.

This is what happens when they don't build a new power generation facility in over 10 years, require that current ones convert to natural gas or shut down, and fail to progress towards stable sources of power such as Nuclear.

And the same can be said of the natural gas industry. You can't tell everyone to build gas-fired plants and not permit exploitation of the hundreds of trillions of cubic metric feet of proven natural gas reserves currently locked up on Federal land.

This whole situation is a classic case of public market failure. And regardless of what the market currently thinks, it will require a federal bailout on the $12 billion in debt that Clinton's policies have created.

This is going to require years to straighten out. And it will likely ruin any chance Gray Davis had of running for President in 2004.
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