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Politics : PRESIDENT GEORGE W. BUSH

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To: Bill who wrote (194229)10/22/2001 9:55:33 AM
From: Zoltan!  Read Replies (3) of 769667
 
>>Chia Pet Biden is a joke of a candidate.

LOL.

Did you see that Democrat guv Gray Davis locked California into electricity prices more than TWICE the market? For 20 years!!!

Now the best that California can do is try to break the contracts in court by arguing that Davis was incompetent and/or acted illegally.

Strong arguments both:

The contracts tie California to electricity purchases at an average price of nearly 7 cents per kilowatt-hour for more than a decade. Daily electricity prices, meanwhile, have tumbled to about 3 cents per kilowatt-hour or less.

Critics also say a significant amount of the power California has bought under the agreements will not be needed.

signonsandiego.com

I have read that Davis is forcing utilities to buy his high-priced power.

The WSJ piece also is instructive:
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