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To: Ahda who wrote (72185)	6/22/2001 10:53:30 AM
From: marek_wojna	Respond to of 116791

<<Go gold if you want but go old and solid not new and tricky.>> I'm solid gold since last fall. E-gold will need back up from CB's to become world currency, point is that they will have no other choice. Example - US don't really know what to do anymore about dollar, they decided go antiballistic - do you really believe they fear rogue missile? Children will not buy this argument.

To: Ahda who wrote (72185)	6/22/2001 11:48:40 AM
From: marek_wojna	Read Replies (1) \| Respond to of 116791

Darleen, Is this true? QUOTE Friday, June 22, 2001 NORTH AMERICA TODAY Kilowatt crooks thrive as energy crisis worsens UNITED STATES by DAN BOYLAN in Los Angeles Normally associated with the developing world, America has suddenly been overwhelmed by juice jackers, metre beaters and kilowatt crooks stealing a commodity that grows more expensive each passing hour - electricity. Utility experts say thieves are hitting California the hardest as prices have skyrocketed thanks to the worst energy shortage in recent US history. For months, California has wrestled with the crisis as blackouts have shut down the so-called Golden State on a regular basis. Usually a time of joy, the start of summer yesterday signalled the beginning of blistering high temperatures expected to further strain supply. Experts say America's richest state is bracing for a range of scenarios, from rampant blackouts to civil unrest. Millions of elderly residents fear heat stroke, while farmers say billions of dollars worth of crops could wilt in the sun. But untangling the energy mess is proving no easy task. Since its politicians bungled the deregulation and liberalisation of the energy industry in 1996, California has seen its electricity troubles mushroom. While deregulation should have lowered electricity costs for consumers, it has had the opposite effect, boosting prices and creating a severe shortage of electricity supplies. Prices have reached such staggering levels - in some places, residents are paying double what they paid last year - that widespread energy pirating has broken out. According to suppliers, the region's massive immigrant population is partly to blame for the theft. While some say immigrants are a convenient scapegoat, pro-industry analysts insist many recent arrivals hail from countries, particularly in Latin America, where stealing electricity is commonplace. Adding weight to the theory, the local Los Angeles media has recently run stories detailing power theft in places such as Mexico City. There, the largest energy provider loses about 25 per cent of the power it generates yearly to pirating. Another factor plaguing California is the ease with which energy can be pilfered. While some thieves use cutting-edge technology such as light sensors to tap into underground power lines, others simply use kitchen knives to cut into their neighbours' metres. Utilities have also reported customers using false names to open utility accounts. One company, speaking to the Los Angeles Times, even admitted it had been fooled by a customer named "U. Ben Hadd". Not only is the crime hard to curb, but the amount of energy stolen is also a matter of dispute. Earlier this month, a national trade association, the Edison Electric Institute, reported that US utilities lost nearly US$2 billion (HK$15.5 billion) to theft last year, or less than one per cent of industry revenue. Activists battling California's price rises disagree with such estimates. They say the industry has long under-reported theft figures which they speculate are well beyond US$5 billion a year. Activists say theft is traditionally included in utilities' overall losses. To recoup the difference, utilities simply passed along losses to consumers. But with California power bills a subject of heated debate, adding any new costs to already outrageous fees is no longer an option. Recently, utilities have begun battling back by sending squads of theft investigators down the alleyways of Los Angeles, mixing fibre-optic scopes and sensors with old-fashioned detective work. As if energy pirates were not enough for the state to contend with, ugly political battles over the shortage have only made matters worse. Such fighting broke out on Wednesday in Washington, when California Governor Gray Davis accused power companies of overcharging customers by nearly US$9 billion. Mr Davis told a Senate hearing that federal officials "looked the other way while energy companies bilked our state" and demanded the billions be returned to California customers. Republicans have severely criticised Mr Davis for allowing the crisis to escalate and Wednesday's meeting was no different as they lined up to lash out at him. "The Governor once said he could solve California's problems in 15 minutes," said Republican Senator Frank Murkowski. But fellow Democrats defended Mr Davis and accused the White House of standing aside as California falls deeper into the energy abyss. "This administration has minimised this crisis for months," Democratic Senator Patty Murray told the hearing. Despite desperate warnings by Wall Street that a staggered Californian economy could have grave consequences for the nation, President George W. Bush has been seen as slow to address the issue. Last month, he unveiled a much-anticipated national energy plan which admitted that "America in the year 2001 faces the most serious energy shortage since the oil embargoes of the 1970s". But critics quickly dismissed the report as simply more old-fashioned conservative thinking from a long-time friend of the oil industry. In interview after interview, Californians say they do not care who is stealing from whom, they just worry about being able to turn on their air conditioning as the temperatures rise. UNQUOTE