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Pastimes : The California Energy Crisis - Information & Forum

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To: Raymond Duray who wrote (550)	6/15/2001 8:59:58 PM
From: Sam	Read Replies (1) of 1715

Ray, The title to the NYT article is "Oil Data Show Industry Role in Shortages Is a Possibility". It is actually an AP article, I just noticed, so it is probably elsewhere as well. It draws on info that Ron Wyden (D. OR) has dug up; he's your Senator, is he not? I know that some of the capitalists on this thread keep saying things like "Gee, prices have gone down, markets work". I hope that they realize that, in general, markets don't really work quite that fast if the shortage was truly real. The speed with which prices backed off seem to me to imply not that markets "work" but that this particular market was rigged and the kitchen was getting too hot for the riggers to keep it up. The spotlight will only get more and more intense as time goes by. I think this may be another reason why we may thank Jim Jeffords, if the Senate actually does do an intense and intelligent investigation, complete with subpeonas. On the other hand, I'm sure that shredders have been working overtime for the past few months. Sam

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