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Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: Webster Groves who wrote (82048)	12/19/2000 6:35:11 AM
From: Second_Titan	Read Replies (1) \| Respond to of 95453

Fools and Demagogues I suspect the politicians in California have been supporting the majority of the populations wishes for the last 10 years w/respect to energy. Be it transmission of electricity or gas, generation of power or production of O&G, Emissions controls, etc. Evidently, the problem is no regulator or politician had the combination of knowledge, courage and power to protect the State from this train wreck. Combine this with some fatal flaws in well intentioned deregulation policy and you have disaster. Not to long ago, if permitted by law, the State's utilities could have established long term contracts for most all the power needed. But the regulators, like hogs, thought they could do better with maximum competition. This I suspect is the single biggest flaw in their plan, and the FERC has put an end to it. What long term contracts they can get today remains to be seen. But there are hundreds of turbines being built looking for homes. Watch these dodos sign long term contracts over the next year, only to see prices fall through the floor in 2-3 years.