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To: AltLar who wrote (85191)	1/24/2001 12:51:13 AM
From: Zeuspaul	Read Replies (1) \| Respond to of 95453

Though I think the Fed's mandating that the out-of-state suppliers have to keep supplying CA with Nat Gas and electricity is setting the stage for continued Ferderal intervention. Their involvement makes them a culpable party IMO. Bush (previously Clinton) say its California's problem and they have to handle it on their own..states rights? The energy secretary says all right we will help a little by mandating sales to California but just for a little while. Big deal..what do they have to lose? That doesn't cost them a dime. California will pay its bill if kept viable. If California doesn't get the juice it will collapse and then it won't pay its bill and a bunch of money won't go to the federal taxman. The FERC says we told you what to do now DO IT. They left off the or else. Maybe the or else is they will help if California complies with its dictates and if they don't comply they will be sent down the tubes. I don't disagree with the FERC demands...but it certainly looks like federal intervention to me. Zeuspaul

To: AltLar who wrote (85191)	1/24/2001 10:25:09 AM
From: kodiak_bull	Respond to of 95453

Yo, Larr: You wrote, "My point is that there is an awful lot of belly aching by out-of-staters about the mess California got itself into, given that the mess has resulted in a massive redistribution of assets out-of-state - hopefully to companies we've invested in :)." Maybe not. Maybe the other side of those spot trades was taken by California-based spot traders in the market. It's impossible to tell whether those assets left California or stayed in, or left the country, or are sitting fat and happy in Kodiakbull's account. As for who's the beneficiary, that goes to fairness. If your extraterrestrial argument was that California forked over extravagant prices for energy OUT OF STATE, therefore the other states shouldn't belly ache about having to dig out the golden state, then that argument seemed to rely on a "restitution" type of theory. Pay out, now pay back. If your argument was something else, then I missed it. But the folks in Iowa don't miss Gray Davis' lame attempt to get AG and the Federal Government to jump in and save a state made mess, at a cost to residents of all 50 states. My guess is, it's a state clean up issue, nothing more.