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***king capitalist pigs

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Jan. 19th, 2002 | 03:00 pm
mood: Pissed off

So this report argued that the "energy crisis" in california was more a "political crisis of leadership and a corporate crisis of greed." [pg 32]

Some of the interesting details of the year and a half of the energy crisis, there was only 3 months where peak demand was higher than then pre-degregulation. THe rolling blackouts did not occure during these months. [pg 16]

I really cannot begin to express the rage I'm feeling after reading the above report. Laissez-faire capitalism must be stopped.

In April of 2001, california's consumed 5.3% less power, the peak demand was 4.8% less, yet the average daily power off-line was 348% greater, and the average wholesale price of electricity was 816% higher. [pg 22]

At this point I'm thinking that if an industry needs a bailout, it should be socialized, and the current board of directories fired. After some period of time the government can then think about transfering ownership to the employees of the corporation.

If debacles like that continue to happen and those responsible continue to escape the results of their mismanagement, I'm going to start expecting a violent marxist revolution.

As an alternate example of "mismanagement", the 29 insiders at Enron cashed out to the tune of $1.1 billion, while the company was still valuable, and then let the employees who were forbidden from selling their enron stock watch their 401k plans die.

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Comments {3}

T e s s

(no subject)

from: soulsong
date: Jan. 20th, 2002 05:15 am (UTC)

I really cannot begin to express the rage I'm feeling after reading the above report.

You mean you didn't know until now?!!

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Diane Trout

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from: alienghic
date: Jan. 23rd, 2002 12:52 am (UTC)

I knew parts, perhaps even most parts, of the energy crisis scandal, I just didn't have everything reviewed at once for me.

I also slightly believed the scarcity theory, since I've got this "we're going to run out of cheap oil in my lifetime" belief in the back of my head. The report pretty much showed that we haven't really hit that point yet.

The blackouts were entirely because of greed and an attempt to extort more money out of california. As far as I can tell based on the analysis of the linked report there was no other reason.

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T e s s


from: soulsong
date: Jan. 23rd, 2002 03:40 am (UTC)

Well if you've got to buy the power from somewhere, and if the suppliers can put up their prices and know you're still going to have to buy from them, and there's no regulation to prevent that, then the suppliers will put their prices up, and the customers will be screwed. Capitalism needs competition or regulation to prevent this sort of thing from happening, and in the California power market last year you didn't have either.

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