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Politics : IMPEACH GRAY DAVIS!
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To: Lazarus_Long who wrote (374)6/3/2003 10:00:41 AM
From: TigerPaw  Read Replies (2) of 1641
 
Thanks for pointing out how correct I am about Enron and the way Davis saved the state from endless extortion.

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" Imagine the cost to California if Davis had continued to let Enron and others extort money from the state and deliver no power in return."
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Now the clear meaning of that statement is that Enron would charge for something not delivered, not charge a higher price for something actually delivered.</font>

Yes, this is how it worked:
Message 17431768

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the energy trading company created phantom congestion on energy transmission lines and engaged in sham power sales between its affiliates to increase electricity prices.

Referring to a strategy called <font color=red>"Death Star" <font color=green>by Enron traders, the lawyers wrote, "The net effect of these transactions is that Enron gets paid for moving energy to relieve congestion without actually moving any energy or relieving any congestion."
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TP
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