Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: American Spirit who wrote (245726)	4/5/2002 6:06:16 PM
From: Ish	Respond to of 769670

<<Yes, we conserved in California, as everyone can. But the prices remained very high >> Lets see, the prices went up in the summer of 2000. You blame this on Bush?

To: American Spirit who wrote (245726)	4/5/2002 9:42:16 PM
From: DavesM	Read Replies (1) \| Respond to of 769670

American Spirit, I realize that I will not convince you, but I can tell you that Jeffords switched left the Republican party around May 25, 2001. The highest average monthly wholesale electricity prices in CA were seen in December 2001 at $300/MWhr (http://www.caiso.com/docs/09003a6080/13/f0/09003a608013f05b.pdf). You are correct though, that there was a dramatic price drop in June 2001. If Clinton and Gore got blindsided, it is because they ignored Gray Davis. Gore could have used California as a National Campaign issue in the fall of 2000-"If Bush gets elected, what is happening in California, could happen to you next". They did not, because IMHO, there really was a shortage. "...At the present time, there is virtually no price elasticity in this market, and little prospect of change in the short run. The result is uncontrolled price spikes with no end in sight....The Independent System Operator Market Surveillance Committee indicated that the market design in California is subject to abuse and price manipulation... This is an important step FERC can take to ensure that California consumers have an effective remedy to market abuse."-July 27, Letter from Gray Davis to James Hoecker, Chairman of the FERC (cc. President William J. Clinton) "Mr. President. San Diego consumers have paid an enormous price for deregulation in a market that no one believes is functionally competitive. Any delay in relief could mean the difference between paying for other basic necessities and paying the electric bill for many vulnerable citizens...But the outrageous wholesale prices being charged by out-of-state generators makes any rate stabilization plan a difficult and expensive endeavor...Your support in requesting that the FERC accelerate its investigation and ultimately recognize that the market is dysfunctional is critical to our efforts." - August 10, 2000 from Gray Davis to President William J. Clinton.