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Gold/Mining/Energy : Mirant Corporation (MIR) -- Ignore unavailable to you. Want to Upgrade?

To: Oeconomicus who wrote (353)	3/15/2002 12:25:34 AM
From: Raymond Duray	Read Replies (1) \| Respond to of 903

Re: I take back what I said - craig is quite sane and reasonable by comparison. I loved Rep. Peter Deutsch (D.-FL) commenting on the lawyers for Vinson & Elkins and End Run sitting below him in Congressional hearings today, calling them "theives in blue suits and red ties." They wouldn't happen to be friends of yours, would they? Re: California Eco-Nazis? Here's where the real Energy Czarists live: Message 16119718 While Mirant grandly prances in front of the FERC trying to create easily scammable RTOs throughout the nation, they hypocritically avoid doing so in their own back yard. My stand of nuclear power is that we need more of it, in order to help put the oil & gas mad manipulators out of business. I'm in full agreement with Richard Rhodes here: c-n-t-a.com So, you are guilty of mischaracterizing me. As well as stooping to personal attacks when you can't truthfully dispute my debating points. Furthermore, I do not live in California. I'm up in the Pacific Northwest and we've gotten screwed by Mirant's shenanigans up here, too. Re: You should not have jumped to the conclusion that MIR has anything to do with the project. Puleeeze, these schemers wouldn't have been mentioned in that article unless they were already engaged in negotiations. Re: you should have asked what involvement, if any, MIR might have, made your case as to why MIR should not be involved, First, they would lie about the involvement. Second, the case is already made that the Dam is dumb by the way that the World Bank, the IMF, and most all other responsible NGOs are disparaging the Three Gorges Project. Mirant is dirty on this one, and hoping to get dirtier. Re: So take your baseless accusations back to the coffee shops and whine away. You are encouraged to put me on ignore if you chose to not listen to the truth. It's time for investors to stand up to corrupt managements. That's why I'm here. That's why I'll post any relevant information on Mirant's malfeasance whenever there is news. You may prefer lies to the truth. I don't. Andersen just indicted. Mirant's up next: riskcenter.com <Copy> March 14: Energy Risk - California Sues Four Energy Firms For Breaking Contracts Date: Thursday, March 14, 2002 The California attorney general's office has sued four major energy companies for $150 million, alleging that they broke contracts to provide emergency power to the state's power grid operator and instead sold the electricity on the lucrative spot market on thousands of occasions. In many cases, the lawsuits allege, the state was forced to buy its emergency electricity from the costly spot market, paying a second time for the same power withheld in the first place by the energy companies. State officials said the suits demonstrate that big energy companies began "gaming" the state's power grid operation within months of its creation and within two years of the 1996 law that deregulated wholesale energy markets and caused utilities to sell most of their generation facilities. "These companies fattened their wallets at the expense of California consumers and ratepayers," Atty. Gen. Bill Lockyer said. Lawsuits filed in San Francisco County Superior Court allege that from April 1998 to September 2000 Dynegy Inc., Mirant Corp., Reliant Energy Inc., Williams Energy Marketing and Trading Co. and various affiliates flagrantly violated rules designed to ensure the reliable and safe operation of the state's electricity transmission system. The suits seek a total of $150 million from the four companies in restitution, penalties and all profits from what Lockyer described as selling "the same electrons twice." "Throughout the California energy crisis there have been numerous state and federal investigations conducted which have resulted in no evidence of illegal acts by Reliant," said Richard Wheatley, a spokesman for the Houston-based company. "At all times, Reliant has acted legally and ethically in operating its plants to keep the lights on in California, in accordance with the rules that California itself established." The actions are the latest in the state's ongoing investigation into alleged price gouging and other profiteering during the energy crisis. California is seeking billions of dollars in refunds from generators for spot market purchases. Recently state regulators asked the federal government to void or modify $45 billion in long-term power contracts signed by the state. And the attorney general sued Pacific Gas & Electric Co.'s parent two months ago, alleging that it illegally siphoned off more than $4 billion from the utility and helped drive it to bankruptcy. <End copy> Have a Fushia Terror Free Day, Ray :)