Quote:
Originally posted by Ustwo
Since you think its such a horrible faliure, maybe you can give a few examples, and show were government control is better.
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Sure, let's look at Enron. The timeline for Enron is a pretty good read:
http://www.chron.com/cs/CDA/story.ht.../enron/1127125
http://www.platts.com/features/enron/timeline.shtml
Also, this BBC story is a REALLY good summary of enron, the best I have seen.
http://news.bbc.co.uk/hi/english/sta...ne/default.stm
I can confidently say that Enron would not have happened if power companies were not allowed to privatize.
I'm unsure how you blame the california problem on overregulation. History has shown that there was no real energy shortage in California during the power crisis, and the companies like Enron were using scams with names like Death Star to dupe the public out of billions.
A truly free market depends on low barriers to entry, that's just Adam Smith Econ 101. A power market, where power plants can cost hundreds of milllions and take 10-20 years to build , is a terrible place to have a free market.
I'm not against states being able to sell their excess power to other states. However, I think state-owned and state-planned power systems are a more efficient way to supply power to the masses.