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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: pater tenebrarum who wrote (114364)	7/25/2001 2:22:29 AM
From: BigMoney	Read Replies (2) \| Respond to of 436258

more like Dubya's cronies all dumped their energy stock holdings now that the manufactured "energy crisis" is over and the artificially inflated energy market has crashed. is it any surprise why the president stood by and did nothing while this "crisis" was occurring? now, suddenly california has excess electrical capacity and is selling the power back to the out of state generators at a loss. since july 1, the state has sold 177,571 megawatt hours at a rate of $36.95 each, which it paid $118 per megawatt hour for (according to an article in tuesday's Chronicle). to save face, california lawmakers are making extra efforts to make sure that SCE does not have to declare bankruptcy. if they succeed, they will have won one small battle. too bad they've already lost the war. california is now locked into long term contracts for power it does not need, at higher prices than the rest of the nation is paying, and that it will have to sell for a loss. UFB