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Politics of energy "crisis"
Bailout Watch -- Keeping an eye on the energy industry and the politicians
FTCR is publishing a daily newsletter on developments in
the California energy crisis. Back issues are available at
http://www.consumerwatchdog.org/utilities/st/
------------------------------------------------------------------------
Bailout Watch #52 Thursday June 7, 2001
Supply and Demand politics.
With pressure mounting on federal lawmakers to step into the
breach and enact price controls on electricity, the deregulation
supporters in DC realized that the proposed reforms might pass
the House, so (in the spirit of sticking it to California) Energy
Committee Chair Billy Tauzin (Louisiana) tabled the bill.
Interestingly, Tauzin, who called the decision to jettison the bill
\"tactical\" as well as \"practical,\" said the legislation was no longer
necessary because, as we predicted they would say (see BW
#51), prices are going down. The energy companies will use
blackouts when they want something (see BW#39, #23) and they
will lower prices modestly when they want to stop something.
Does the energy industry have special access to the President?
It\'s not exactly a surprise that the Oil Men in the White House
maintain close ties to energy companies, including those that
have been abusing California. But the relationship between
senior Bush-Cheney advisors and energy cos. is more than just
about old business alliances, according to recent reports in the
Los Angeles Times and the New York Times. These
revelations help explain why the White House has declared war
on California in crafting an national energy policy that reads like
an industry wish list. How can the Bush administration protect
us from the energy industry when the Bush administration is the
energy industry?
* Clay Johnson, Bush\'s personnel chief, has invested more than
$100,000 in El Paso Energy Partners, whose parent corporation,
El Paso Corp., is the subject of investigations for manipulating
natural gas supplies. Johnson also holds more than $50,000 in
Duke Power bonds, according to the reports.
* Karl Rove, Bush\'s chief advisor, owns more than $100,000 in
stock in Enron
the California energy crisis. Back issues are available at
http://www.consumerwatchdog.org/utilities/st/
------------------------------------------------------------------------
Bailout Watch #52 Thursday June 7, 2001
Supply and Demand politics.
With pressure mounting on federal lawmakers to step into the
breach and enact price controls on electricity, the deregulation
supporters in DC realized that the proposed reforms might pass
the House, so (in the spirit of sticking it to California) Energy
Committee Chair Billy Tauzin (Louisiana) tabled the bill.
Interestingly, Tauzin, who called the decision to jettison the bill
\"tactical\" as well as \"practical,\" said the legislation was no longer
necessary because, as we predicted they would say (see BW
#51), prices are going down. The energy companies will use
blackouts when they want something (see BW#39, #23) and they
will lower prices modestly when they want to stop something.
Does the energy industry have special access to the President?
It\'s not exactly a surprise that the Oil Men in the White House
maintain close ties to energy companies, including those that
have been abusing California. But the relationship between
senior Bush-Cheney advisors and energy cos. is more than just
about old business alliances, according to recent reports in the
Los Angeles Times and the New York Times. These
revelations help explain why the White House has declared war
on California in crafting an national energy policy that reads like
an industry wish list. How can the Bush administration protect
us from the energy industry when the Bush administration is the
energy industry?
* Clay Johnson, Bush\'s personnel chief, has invested more than
$100,000 in El Paso Energy Partners, whose parent corporation,
El Paso Corp., is the subject of investigations for manipulating
natural gas supplies. Johnson also holds more than $50,000 in
Duke Power bonds, according to the reports.
* Karl Rove, Bush\'s chief advisor, owns more than $100,000 in
stock in Enron
For more information:
http://www.consumerwatchdog.org/utilities/st/
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Second, the governor prohibited forward pricing of energy, a method of buying and selling energy months or years into the future, which smooths out the price shocks. This forced PG&E and Edison to buy on the spot market, the immediate delivery, and highly volatile, market.
Third, the governor forced utilities to divest themselves from producing energy. He thought it was unfair that a utility produce and distribute energy. The once cooperative arrangements among utilities made constant power possible, as plants went down for maintenance in rolling schedules, assuring a constant flow. That is illegal now.
Fourth, the governor blocked the construction of new power plants of any sort: wind, nuclear, solar, hyrdoelectric, biomass, coal, and natural gas.
The blame is 100% governor and assembly. President Bush should treat them like the spoiled children they are.
Was it Jerry Garcia that sang, "Light a candle curse the glare"?