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Strategies & Market Trends : New US Economy Policy

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To: Arthur Tang who wrote (280)	5/23/2001 11:16:17 AM
From: Arthur Tang	Read Replies (1) of 435

Why rolling back the deregulation of energy industry will save this nation of energy shortages or outrages pricing caused by bankruptcy of utility companies? Case history: Enron sold energy from Louisiana in New Hampshire to 1000 customers, after deregulation. From thousands of miles away, the electrical resistance of the electrical grid network made actual supply of power to New Hampshire customers, a fraud. These customers are still connected to New Hampshire power plant. So, Enron stole the money and never have to send any electricity to New Hampshire. In the mean time, the state of New Hampshire has to regulate the profits that the electric power plant and set rates. The rates will go up because of stolen customers do not pay New Hampshire power plant but pay Louisiana Enron. The same thing is now happening in California, where Enron is stealing customers again for cheaper electricity from Louisiana. PG&E is now bankrupt; State of California is now trying to keep it afloat, but continue to supply electricity at a higher rate. Our government is now making laws by freshman congressmen, who do not understand electricity and the gris network. The law creates legal stealing of monies due local suppliers of electricity. The grid can only supply anyone between two close by power plants. Deregulation will not be fair if they cross state line. It has gone the same route of telephone deregulation; where AT&T tries to steal customers from Pactel, who owns the lines but had to sell to AT&T who stole their customers(piggy back operation). No one benefited. All the telephone companies had to merge and acquire each other to stay solvent for the last few years. AT&T now had to split off or spin off to stay alive. Bankruptcy is not far from view. Some thing has to be done. Government regulation was necessary to keep utilities alive and offer efficient services without excessive profits. Otherwise, the government has to set up shop or nationalize all of them and run inefficiently, like the communists do. It is part of the new economy planners' duty to make sure legislation does not destroy our economy.

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