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

To: Scumbria who wrote (153151)	6/14/2001 9:58:50 AM
From: gao seng	Read Replies (1) \| Respond to of 769667

Scumbria, As you know the energy crisis was caused by the worthless credit of the utility companies in CA. Davis has worked out a deal to pay the suppliers, which is contingent upon their support of his next campaign. So now the suppliers have confidence that they will be paid. This was documented in a Frontline investigation shown on PBS a few weeks ago.

To: Scumbria who wrote (153151)	6/14/2001 10:07:04 AM
From: Neocon	Read Replies (1) \| Respond to of 769667

Of course they went up after the election, despite the predictions of some on this thread that the Clinton/Gore sell off of strategic oil reserves would solve the problem. First, winter came, driving up the price. Second, Intifada II got heated up, raising questions about the political climate in the Middle East, and the future behavior of OPEC, and leading to caution about maintaining oil reserves for the summer. Now, the assessment is more optimistic, and less crude is being reserved. However, what was held in reserve was bought at a high price, and so there is a lagging retail effect. My electric bills have been relatively low, as the spring has come in, and would be lower if my wife were not asthmatic and I were not allergic to pollen, making it unwise to turn off the air- conditioner and open windows. I presume California has similarly benefitted. Furthermore, I doubt that much new capacity has come on line, but I do suspect that buying from area grids has increased. In a less panicky situation, negotiating reasonable deals is possible.