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To: JRI who wrote (72476)	2/27/2001 3:57:59 PM
From: Raymond Duray	Respond to of 436258

Hi JRI, Nice to hear from ya... You're right about Smoot-Hawley contributing to the debacle of the '30's. While the Dust Bowl was devastating for many individuals, I don't recall there being a macro-economic impact on the nation's food supply or price, which continued to be mired in the mud until the war. One aspect of the deflation of the '30's was the abundance of crude oil, with the price of a barrel of crude getting as low as ten cents after Dad Joiner brought in the Black Giant in East Texas in 1930. That is what is different this time. There is scant hope of a deflationary discovery of the magnitude of the East Texas field today. As far as California's energy woes, there is scant hope that we won't get sucked into the vortex. California has a population of 34MM, Oregon and Washington combined are 9.2MM. You do the math. census.gov Give 'em hell I say...its their mess, they should pay for it, and fix it... It absolutely is a mess, they will pay for it twice, once to the rapacious IPPs, then to the bondsmen to acquire a decrepit T&D plant and associated pension liabilities, and finally, you're dreaming if you think anyone is going to "fix" it. The emergency plan (oxymoron alert) is to put bandaids all over "it". <bg> Ray :)