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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (182)	4/2/2001 9:02:59 PM
From: Tim Bagwell	Read Replies (1) \| Respond to of 1715

Patricia, I don't mind giving Bill Wattenberg full credit since he warned all of us two years ago that the power crisis was coming (not to mention his other foresight) only to catch political flack from the knuckleheads in Sacramento. If you vote everyone of them out (as you should), the problem will persist. If what the Republicans say is true and we have a shortage due to the lack of new power plants than why in hell did the fools sell the ones we already had? It makes no sense. The shortage in the supply of electricity is not in dispute by most of those who understand the issue. It should not come as a surprise to anyone given the stranglehold that the eco-nuts have on the building of power plants and the insatiable demand created by new technology. I've heard conflicting reports but apparently the utilities were forced to sell off their power plants by the deregulation legislation. Again the blame falls squarely on the knuckleheads in Sacramento. Everything they do will rob us of cash in one way or another. The bonds they plan to issue are a hidden tax on our income. The increased cost of goods you buy are a hidden tax on our income. The tax rebate that they will not give you is like a hidden tax on our income. The tax reduction that they will never be able to afford is like a hidden tax on our income. It goes on and on and on. The only thing that stays the same is their appetite for money.

To: Patricia Trinchero who wrote (182)	4/7/2001 3:00:49 AM
From: Geof Hollingsworth	Read Replies (1) \| Respond to of 1715

Geez, I hardly know where to start. All of our politicians in the Assembly voted for the deregulation bill. It was authored by a Republican in a Republican Assembly and signed by a Republican Gov but all the Democrats voted for it as well. Partly right, mostly wrong. The bill was authored by the utilities and energy traders (Dynergy, in particular). It was introduced by Steve Peace, a Democrat from San Diego, who has been strangely silent these last few months. You guys in San diego do know that he is responsible, right? You are going to make sure that in the future he can't even get elected as dogcatcher, right? (that's what I was afraid of). The bill passed both Democratically-contolled houses unanimously, with little debate, and was quickly signed by the Republican governor (interpretation-both parties were bought and paid for, as usual). In a deregulated free market, the quick and the smart eat the slow and the stupid. We have been witnessing what happens when you pit energy traders, whose continued supply of Gucci loafers depends on their skill and execution, up against politicians, bureaucrats, and Utility employees. First, they picked the balance sheet of the Utilities clean and they have been feasting ever since on the bloated Turkeys in Sacramento. It is hardly a fair fight, but it shouldn't come as a surprise to anyone. Who do we blame? In my book, it starts with the utilities, who were incredibly outfoxed by the energy trading firms, and of course blame goes next to our politicians, who are even dimmer than the utility execs. The problem, though, is that, as many of us have been predicting, those are also the only people in the loop to craft a solution, which is why things will only get worse. In the local parlance, Gray Davis couldn't lead a cub scout to a candy store, and Gordon Smith couldn't persuade a stray dog to pick up a pork chop dropped on the sidewalk. A final note which should really piss you off is that while shareholders and rate payers may be suffering, it doesn't seem to have affected life in the executive suite. I have it on good authority that Smith just came to the top of the list at a local Country Club whose initiation fees run North of $50K. Shades of "Let them eat cake...?"