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: rolatzi who wrote (85126)	1/23/2001 2:27:24 PM
From: kodiak_bull	Read Replies (2) of 95453

Rolatzi, You wrote, "The good people everywhere else in this nation are paying the increased price for energy without complaining and asking the for either a price fix, a subsidy or a bail out. The people in the north east and the midwest pay huge amounts of money each year to heat their homes. We must all share our burden of the bad energy planning that we have had for the last 8 years or more." Yes, I couldn't agree with you more. My personal limitation on the "bail out" would be a federal credit enhancement or guarantee on State of California issued bonds. Only if those bonds went into default (not gonna happen) would the Fed be on the hook. Believe me, if we get to the point where California is in default, a little federal full faith and credit on those bonds is going to be a mosquito bite on the butt of a bull elephant compared to all the other problems we'd be feeling. We'd be in a world of hurt. At the theoretical cost of a federal guarantee (which should make the bonds more saleable and the interest rate lower) we could head off the repercussions of this state manufactured disaster. Kb

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