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Politics : Formerly About Advanced Micro Devices

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To: Jim McMannis who wrote (134924)	3/26/2001 3:01:14 PM
From: Windsock	Read Replies (1) of 1570543

Jimbo - Re:RE:"In whos opinion? Sounds like your siding with the big bad power companies against the poor California environmentalists." The ONLY short term solution for the CA power shortage is to raise rates and cover costs. There is no free lunch. The longer term solution requires building power plants. It is the novel concept -- for politicians -- of increasing supply to reduce prices. The politicians have been diddling and posturing because it so much easier to point fingers than do anything constructive. But the recent awareness that CA could not get long term contracts at low rates just because it wished is beginning to hit home. The 2 year cost of the state power contracts "at the market" is $23 billion instead of the wished for $10 billion. This will eat up all the CA reserves and then some. It might even require raising taxes !! This will awaken the pols to action. They can not just talk the problem away -- they may just have to fix something, like raising electric rates now to a level that recovers costs.

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