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

To: Skywatcher who wrote (333497)	12/23/2002 11:07:52 PM
From: RON BL	Read Replies (1) \| Respond to of 769670

No Chris his hypocrisy is present. He was out there bashing Lott but the truth is he never was a friend of black people till his presidency when he needed them. Another example of leftist hypocrisy is the state of California. Oh yes not in my back yard we don't want no energy building here but yet it is the number one consumer. "Bear is Coming After California This brings me back to my own state of California, which I believe is about to face another energy shock. California is a high consumer of all forms of energy—oil, natural gas and electricity. The state has a very high demand for all forms of energy with very low domestic energy supply that keeps getting shorter thanks to environmental restrictions. Although heavily dependent on outside imported energy, California is embarked on an environmental crusade at a time when it is the nation’s number one and two consumer of all forms of energy. It is number one in the consumption of gasoline and residual fuel oil. It holds the number two position in consumption of natural gas, aviation fuel and distillate fuels. We are the country’s fourth largest oil producer with nine of the nation’s largest oilfields. The state has done very little to increase supply, while demand keeps rising. Consequently, California must import over 50 percent of its oil needs and 84 percent of all of its natural gas needs. While demand keeps rising and the state keeps building new gas plants (not enough to meet energy demand), it has done very little to build a natural gas infrastructure to supply these new power plants. This includes expanding the state’s grid system. Unfortunately for California, the state’s problems will only get worse. In addition to having a major energy problem, it also has massive budget deficits. Now that the state’s governor has won reelection, the true position of California’s budget problems have been revealed. Starting with a $10 billion budget surplus when he took office, Governor Davis reported last week that the state now faces a budget deficit of $34.8 billion. The budget deficit is the result of declining capital gains tax revenues and a 35 percent increase in state spending by the Davis administration. Experts warned the governor that the capital gains tax revenues were not permanent. He had been warned by budget analysts not to spend money since the revenue increase from California’s tech industry would not be permanent. The governor ignored the warnings and now faces both a budget crisis and an energy crisis. Ironically, the architect of California’s failed electricity plan, former lawmaker Steve Peace, has now been appointed by the governor to solve the budget crisis. The Peace plan for deregulation forced utilities to sell their power plants, it fixed the price of energy, prevented the utilities from locking in long-term contracts for energy, and did very little to increase supply and expand infrastructure. Many of the state’s budget woes can be traced back to the Governor and Peace’s deregulation plan. I can just imagine what awaits the state with these two now tackling the budget deficit." financialsense.com Other than that have a happy holiday and a good Xmas.