To: CYBERKEN who wrote (158562 ) 7/7/2001 3:29:02 AM From: American Spirit Read Replies (1) | Respond to of 769667 From an expert on MDD thread. Says it better than I can with historical facts. "AS, the rotten thing is, it all comes back to the twisted political influence of money again. The dereg. bill in California started when a pack of big industries pulled ol' Pete Wilson aside and convinced him they were paying too much for power. Natchurly, they had his ear, and he saw his "heroic" leadership into this brave new world as the key to ending California's early 90s recession and puttin' the keys to the White House straight into his hands. Enron and co. led the cheerleading and greased the palms, while they quietly hired sharpshooters and trained them to run (and game) a brave new unregulated trading market that few outsiders understood. How could they -- these guys invented the game, played without oversight, then waited for their buddy to take the White House, 'cause they knew heads would turn the other way while FERC bleated "free market", "free market", and abdicated their charter. Wilson squelched all protests of warning from the more insightful economists who saw how this thing was going to shake out, and enlisted a bipartisan stooge Steve Peace to conduct the midnight death march. You will STAY here in this room until we pass this thing, dammit ! Such a major scheme to ram through with minimal input from normal channels, or understanding by the crowd that passed it (as the legislature was suckered to go along). Things went pretty smoothy for a few years, then bang ! the perfect storm. Get El Paso to hold back gas while it peaks in winter pricing and while they control the lines into the state. Meanwhile, find a way to take out 1/3 of the supply when you can price to infinity during a stage 3, in winter when demand is actually way below supply. Blame it all on an unusually high incidence of required or accidental maintenance shutdowns. Do it quickly, before the public can figure out what's going on, while FERC's still asleep. If the heat gets too hot and the abuse gets reigned in, well, it's $70 billion later.........too late. There is for the time being a potential shortage on the hottest days of summer, but even then it's looking like only a few thousand megawatts, barely 5 % - with new plants coming online. Days like today -- power aplenty. Ironically, the upshot of this will be to crash the Enron/Bush dream of a national deregulated grid controlled by the Texas cabal, before it gets hatched. Ain't gonna happen now -- just like Gingrich, their reach exceeded their grasp, exposed them, and woke up the mushrooms. The mushrooms ain't pleased by what they've seen, and they'll be taking back the control they foolishly ceded. Meanwhile, the choking sound rising from California is about to wash over the country and link the names bush and recession eternally together again............. " And I might add, Bush and Enron's heads will roll.