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Pastimes : The California Energy Crisis - Information & Forum

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To: Raymond Duray who wrote (453)	6/12/2001 6:56:15 PM
From: Hawkmoon	Read Replies (3) of 1715

The government gave away $28 Billion to the bozoes in the utilities who created monstrously inapropriate "investments" and had the chutzpah to suggest that the consumer had to pay for lousy executive decisions. I'm not familiar with all the specifics, but one has to ask to what degree those "inapropriate investments" were actually the state government driving up the costs beyond profitability through their regulatory power. Why would the state feel the responsibility for reimbursing the costs of these abandoned nuclear plants, unless PG&E and others were threatening to sue them because the state had driven up those costs with post-facto regulatory changes and legal harassment. And as for "chutzpah", it's interesting that PG&E is in bankruptcy as a result of the lousy executive decisions on the part of Governor Davis as well as that bill preventing the use of long-term contracts to mitigate price spikes. Were the utilities, a relatively low profit business, so guilty of "collusion", you'd wouldn't have several of them either in bankruptcy, or teetering on the verge of such. Hawk

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