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Pastimes : The California Energy Crisis - Information & Forum -- Ignore unavailable to you. Want to Upgrade?

To: Daniel G. DeBusschere who wrote (1373)	6/28/2002 8:48:29 PM
From: Raymond Duray	Read Replies (1) \| Respond to of 1715

ASTONISHINGLY FRIVOLOUS MATH, GOOFY FINGERPOINTING NONSENSE Dan, You seem bitter about LADWP. I can't understand that at all. If you spent any time at all to understand what is at issue here, we are talking about one transaction on one day. Say, using the WAG method, that the contract was for 1,000 Mwh. Probably a high figure. Now look at what they are accused of. Meeting the market price. Which meant that they were completely within their rights to try to get the citizens of Los Angeles the best price they could, within the limits of the market. So, 1,000Mwh x $200 = 200,000.00. Now let's compare that to what Enron made in one day when the New Mexico gas pipeline exploded. Enron made $500 Million in one day. 200,000/500,000,000 = 0.00040, or 0.04% as much as Enron gouged California in one day. Are you ashamed of yourself yet for following this silly story? Are you aware of the accounting concept called "materiality"? Your concerns are astonishingly frivolous. Cheers, Ray