Seems the crooked left wing politicians that run the state of California have finally gotten caught. http://vote2000.ss.ca.gov/Returns/LegComp.htm ..Turns out that many left wing politicians made heavy investments in energy companies shortly before the so-called crisis began.
Further, the evidence is clear that energy producers associated with the left wing have been price gouging Californians without mercy.
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SACRAMENTO Gov. Gray Davis is looking for more cases of conflict of interest among his energy- buying staff after firing five consultants who held stock in energy companies.
http://www.ocregister.com/news/consultants00729cci3.shtml
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Lawsuits finally pried that information out of Davis last week and ? lo and behold! ? "the biggest snakes on the planet" (Davis's words) were charging less than the publicly owned utilities of California itself and even less than the price charged by his right-hand man, David Freeman, head of the L.A. Department of Water & Power. And Davis turns out to have known it all along.
It turns out, however, that publicly owned utilities charged the state an average of $344 for a megawatt of electricity during the first three months of the year. Private companies were meanwhile charging less than an average of $250 per megawatt. And those Houston-based "snakes" ? Reliant, Dynergy, and Enron ? were charging less than the publicly owned utilities, less than the sainted and celebrated L.A. Department of Water & Power ($292 per megawatt), less than the Sacramento Municipal Utility District ($330 per megawatt), less than other investor-owned California--based power marketers
The Left's entire California story, it turns out, was built upon a breathtaking series of gubernatorial falsehoods and demagoguery. If Davis and his duplicitous henchman, David Freeman, have an ounce of credibility left, it's only because the nation is too riveted on the Chandra Levy matter to pay any attention to the bomb that went off in Sacramento last week.
http://www.nationalreview.com/comment/comment-taylor072701.shtml
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Saturday, June 16, 2001 1:39 p.m. EDT
LA Times: Boxer 'Pocketed Tens of Thousands' in Energy Profits
Bush energy policy critic Sen. Barbara Boxer, D-Calif., "pocketed tens of thousands of dollars" in "quick profits on active trading
of energy stocks last year," reported the Los Angeles Times Friday.
Boxer's energy jackpot included a killing of up to $50,000 from the sale of stock in Halliburton Co., the oil services company Vice President Dick Cheney ran at the time.
Records show the California Democrat engaged in a flurry of highly profitable energy trades throughout last year, cashing in
big time with investments in Duke Energy Corp., Diamond Offshore Drilling Inc. and El Paso Energy Corp., as well as Halliburton -while her state's electric rates and gasoline prices went through the roof.
"She bought shares in energy companies in at least 66 transactions, and by the end of the year held stakes whose combined worth was estimated at between $126,000 and $355,000,"
the Times said.
The energy-profiteering politician claimed Friday that she had no idea she was getting rich from businesses she'd bashed as price gougers, explaining that a financial adviser handles her investments.
The fierce energy company critic promised to dump her energy stock portfolio. But Boxer said nothing about returning the ill-gotten
gains to California consumers, who, she has argued in the past, have been victimized by the companies she invested in.
Another oily Bush-bashing pol turns out to be the state's richest congressional representative, Rep. Jane Harman, who had the nerve to co-sponsor a bill against energy price gouging while racking up gains on her
$350,000 investment in the Houston-based energy firm Enron.
Like Boxer, Harman invoked the "financial adviser" excuse for cover, telling the Times she had no idea she was personally profiting from price gouging.
Complying Thursday with Congress' financial disclosure rules, Harman reported total assets of between $107 and $297 milllion.
----
The State of California and the State of Pennsylvania deregulated the power industry at approximately the same time. The price of electricty in Penn. went down, the price in Calf. went thru the roof.
The "evil" energy producers were charging both state the same rates, so why did this happen?
The crooks who run California first invested heavily in Natural Gas based power comanies, then passed laws making California almost exclusively dependent upon Natural Gas for electricity.
The people who run Penn. allowed power companies to choose the cheapest way to produce power. Letting them choose between Coal, Oil, Gas or Nuclear.
Thanks to Califonia's dependence on Gas demand quickly outweighed supply and prices skyrocketed. The left wing politicians who had invested just sat back and got rich.
The power companies in Penn. just switched to Coal or Oil and kept prices down.
[This message has been edited by billboy (edited 07-29-2001).]
Further, the evidence is clear that energy producers associated with the left wing have been price gouging Californians without mercy.
--------
SACRAMENTO Gov. Gray Davis is looking for more cases of conflict of interest among his energy- buying staff after firing five consultants who held stock in energy companies.
http://www.ocregister.com/news/consultants00729cci3.shtml
-----
Lawsuits finally pried that information out of Davis last week and ? lo and behold! ? "the biggest snakes on the planet" (Davis's words) were charging less than the publicly owned utilities of California itself and even less than the price charged by his right-hand man, David Freeman, head of the L.A. Department of Water & Power. And Davis turns out to have known it all along.
It turns out, however, that publicly owned utilities charged the state an average of $344 for a megawatt of electricity during the first three months of the year. Private companies were meanwhile charging less than an average of $250 per megawatt. And those Houston-based "snakes" ? Reliant, Dynergy, and Enron ? were charging less than the publicly owned utilities, less than the sainted and celebrated L.A. Department of Water & Power ($292 per megawatt), less than the Sacramento Municipal Utility District ($330 per megawatt), less than other investor-owned California--based power marketers
The Left's entire California story, it turns out, was built upon a breathtaking series of gubernatorial falsehoods and demagoguery. If Davis and his duplicitous henchman, David Freeman, have an ounce of credibility left, it's only because the nation is too riveted on the Chandra Levy matter to pay any attention to the bomb that went off in Sacramento last week.
http://www.nationalreview.com/comment/comment-taylor072701.shtml
-----
Saturday, June 16, 2001 1:39 p.m. EDT
LA Times: Boxer 'Pocketed Tens of Thousands' in Energy Profits
Bush energy policy critic Sen. Barbara Boxer, D-Calif., "pocketed tens of thousands of dollars" in "quick profits on active trading
of energy stocks last year," reported the Los Angeles Times Friday.
Boxer's energy jackpot included a killing of up to $50,000 from the sale of stock in Halliburton Co., the oil services company Vice President Dick Cheney ran at the time.
Records show the California Democrat engaged in a flurry of highly profitable energy trades throughout last year, cashing in
big time with investments in Duke Energy Corp., Diamond Offshore Drilling Inc. and El Paso Energy Corp., as well as Halliburton -while her state's electric rates and gasoline prices went through the roof.
"She bought shares in energy companies in at least 66 transactions, and by the end of the year held stakes whose combined worth was estimated at between $126,000 and $355,000,"
the Times said.
The energy-profiteering politician claimed Friday that she had no idea she was getting rich from businesses she'd bashed as price gougers, explaining that a financial adviser handles her investments.
The fierce energy company critic promised to dump her energy stock portfolio. But Boxer said nothing about returning the ill-gotten
gains to California consumers, who, she has argued in the past, have been victimized by the companies she invested in.
Another oily Bush-bashing pol turns out to be the state's richest congressional representative, Rep. Jane Harman, who had the nerve to co-sponsor a bill against energy price gouging while racking up gains on her
$350,000 investment in the Houston-based energy firm Enron.
Like Boxer, Harman invoked the "financial adviser" excuse for cover, telling the Times she had no idea she was personally profiting from price gouging.
Complying Thursday with Congress' financial disclosure rules, Harman reported total assets of between $107 and $297 milllion.
----
The State of California and the State of Pennsylvania deregulated the power industry at approximately the same time. The price of electricty in Penn. went down, the price in Calf. went thru the roof.
The "evil" energy producers were charging both state the same rates, so why did this happen?
The crooks who run California first invested heavily in Natural Gas based power comanies, then passed laws making California almost exclusively dependent upon Natural Gas for electricity.
The people who run Penn. allowed power companies to choose the cheapest way to produce power. Letting them choose between Coal, Oil, Gas or Nuclear.
Thanks to Califonia's dependence on Gas demand quickly outweighed supply and prices skyrocketed. The left wing politicians who had invested just sat back and got rich.
The power companies in Penn. just switched to Coal or Oil and kept prices down.
[This message has been edited by billboy (edited 07-29-2001).]
