all:
posted this once and it went to message heaven...
lots of back and forth on cal. energy on realmoney this a.m. i liked this one from seymour as he specifically warns on owning cal. based techs going into the summer, or even now.
Jim Seymour
Final Thoughts on Cal Power
3/20/01 9:27 AM ET
Just one more thought on the current California power problems:
Monday's demand, about 30,000 megawatts, was about HALF the typical daily Summer demand level in the state.
Yes, by Summer we hope to see some plants that are now out of service for scheduled maintenance back online. But they wouldn't fill THAT big a delta.
I am amazed at how many investors, hip-deep in companies inescapably fused to California power economics -- see this as someone else's problem.
For so many already-battered tech companies -- chip foundries, circuit-board makers, Net hosting services (all incredibly heavy users of power) -- are going to get hurt this summer, no matter WHAT the California legislature, Gov. Davis, the Feds, or anyone else does.
It's clear that, politically, consumers' needs, public-health and public-safety needs, etc., will be in line ahead of these kinds of power-slurping companies for whatever supply IS available. (And who can argue with that?)
Those [few] RealMoney.com subscribers who think we spend too much time worrying about Cal power issues have it exactly backwards -- neither we nor they, probably, spend *enough* time thinking this through....
worried, and reorganizing my portfolio
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bot lots of oils yest., and they are all doing well. bot several defense issues, too. now they are beginning to firm and move up also. edgy day. don't want to hit any more stops; get penny'ed to death on those.
don |
