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Politics : PRESIDENT GEORGE W. BUSH
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To: Patricia Trinchero who wrote (146655)5/20/2001 7:58:07 PM
From: Peter O'Brien  Read Replies (3) of 769670
 
Pat, were you sympathetic to the energy companies when they
were losing their shirts in 1998-1999 when energy prices collapsed?
They weren't making anywhere near a "fair profit" back then,
and many of the smaller companies were losing money.
The energy service industry was decimated as exploration
budgets were severely curtailed.
In fact, that's why Gray Davis wouldn't sign any long-term contracts.
He thought the low spot prices would last forever.
Wasn't Gray Davis "gouging" the energy companies back then?

Regarding the $1900/mwh price, the CEO of Reliant has responded
to this on Friday. No reply yet from Gray Davis...
biz.yahoo.com
The ballyhooed price of $1900/mwh was apparently only
for a small amount of generation from old plants that can only
run a few days per *year* due to environmental restrictions.
Pat, would you be willing to temporarily suspend the environmental
regulations on running such plants?

If you want the federal government to step in and impose
temporary price controls, shouldn't Gray Davis be forced
to resign first as a condition of doing so? After all, that's what
happens in the private sector when a company has to be
bailed out. The existing executive is first ousted.
Why should California be any different?
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