Like I said, Just Fraud:
Re: . If you run across a single article the succinctly yet objectively states the 'No shortage, just fraud' case, please post same.
FYI, here's a pretty good summary of one aspect of the fraud, from last July:
cbsnews.com
California Outage Outrage
FERC Chairman On The Hot Seat For Answers To Market Manipulation
Secret Investigation Found Two Companies Held Back Power
Evidence Was Sealed, But Congress Wants To See It
LOS ANGELES, July 27, 2001
AP
(CBS) Members of the Federal Energy Regulatory Commission (FERC) were forced to answer questions Thursday raised by a CBS News investigation.
"I'm troubled by the fact that the network news the other night reported on a secret FERC investigation that found two companies were keeping power plants out of service to raise electricity prices," said Sen. Ron Wyden, D- Ore.
Under siege from angry consumers, power companies deny they shut down plants to push up California energy prices. But as CBS News Correspondent Vince Gonzales reported Tuesday, a secret FERC investigation of two companies yielded evidence price gouging did occur. In one instance, Williams Energy admits telling operators at a plant owned by AES, "Williams could provide a financial incentive...to extend the outage."
CBS News Investigation
Click here to read the report from CBS News Correspondent Vince Gonzales about how federal regulators have been investigating whether power suppliers deliberately manipulated energy shortages to jack up prices in the West. And that there is important information they refuse to tell.
The companies settled with FERC. Neither admitted any wrongdoing. Williams paid $8 million and the evidence was sealed — including documents and audio tapes of company employees arranging to keep plants shut down.
FERC chairman Curt Hebert defended the secrecy.
"I actually see the AES-Williams case as something very positive."
That angered Senator Dianne Feinstein.
"Now there's somebody you can go to all in secret, you can work out your deal. Nobody ever knows what really happened. That's wrong, Mr. Hebert. It's wrong," said Feinstein.
"I understand your concern. I understand wanting to see the information. I truly believe the settlement process does bring benefits and I do think it is a good indication that FERC is, was and will continue to be vigilant," said Hebert.
But the chairman was in the minority. Three commissioners testified the evidence should have been made public.
"A big case involving withholding very interesting evidence comes before us and we bury the evidence and it hurts our credibility and makes it look like we're conspiring with the industry," said FERC Commissioner William Massey.
Future FERC Chairman, and Bush appointee, Pat Woods says going public and making an example of the companies might have been worth more than the refund.
"A few heads on the stakes around the campfire make all the animals behave a lot better in the forest."
But FERC refused a CBS News request for documents and faxed a letter stating the commission will not release the audio tapes either — a decision that is being appealed.
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Bob,
This battle is far from over. Sen. Feinstein came out swinging today. She's looking for heads to roll among the power marketer racketeers.
-Ray |
