Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: greenspirit who wrote (132596)	3/21/2001 9:01:22 AM
From: Roger A. Babb	Read Replies (3) \| Respond to of 769667

Michael, in my opinion the power situation in California is rigged and the current shortages are created by manipulation for the purpose of driving up prices. While it is true that capacity may be in short supply on hot days this summer, it is not true now. Currently many generating units are purposely sitting idle. Bush will not intervene because the perceived shortage supports his demand to drill in the national parks and back down environmental regulations. We see wholesale power rates of $400+ per megawatt hour daily in California. A good diesel generator buying diesel fuel from a truckstop will run for about half that price. Obviously some HUGE profits are being taken out of the system. What we are seeing in California is the evils of an unregulated monopoly allowed to run wild. We saw this in the early 1900's in the developing electric industry and solved the problem with regulating the utilities, allowing them a small but solid return on investment in return for reliable low cost power. We now must learn that lesson again.