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Strategies & Market Trends : Steve's Channelling Thread -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (11467)	2/21/2001 5:35:40 PM
From: Logain Ablar	Read Replies (1) \| Respond to of 30051

Bosco: I have not seen the governor request assistance from the fed except to keep the suppliers sending power with no guarantee of payment. Of course I'm on the other coast and don't follow it. I mentioned hydro since its the most environmentally friendly (I exclude wind since its not practical). It could take 4 to 5 years to build a dam. I remember last year in SF they were trying to bring in a generator and they couldn't obtain the permits. One of the problems with the politicians is they always wait till its a crisis. I'm not sure deregulation was totally flawed. At the time there was excess power (the reason why rates actually decreased). There was also enough time (wasn't it over 5 years ago) to build new power plants to keep things in balance. The flaw was the states inability to recognize the future consequences of its actions (the power companies recognized it). If plants were built the issue would not have been as severe. Granted the NG spike would have hit but this is temporary and here in the north east, between electric (water bed heat, pellet stove) and ng (heat) our cost run over $350 from Dec - Feb. The people of California made the decision to not have power plants built in their state. They made this thru the elected officials, whether at the state or local level. Granted we all make mistakes and one of the roles of government is to help those who can't individually help themselves. So if there is something that can be done what is it that the fed can do that CA can't on its own? Lets see CA can: 1) Pay for the power they've used. 2) Pay for the power they want to use. 3) Set in motion new infrastructure projects. 4) Purchase the assets of the power companies @ a fair value (I bet the bond holders and unsecured creditors will have a field day here when CA trys to just take over the companies). So IMO it shouldn't be one of those. What do you propose? I can see CA becoming too expensive for business to compete going forward. This is part of the capital markets. Tim