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Originally posted by HarmlessRabbit
I can confidently say that Enron would not have happened if power companies were not allowed to privatize.
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Thats true, but so what? When missmanagement and fraud happens in the private sector we invesitgate and put people in jail. If only the state and federal governement had such rules.
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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.
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From what I understand it was the price-fixing of the State government along with a 25% reliance on out of state power coupled with a draught which led to the mess. There wasn't a free market in CA, you had a artificially controlled one.
It was the STUPID system set up by the govt of California which allowed them to dupe the public out of billions.
Also from what I read (and no I don't know of the source right now) there have been no new power plants in CA for quite a while, due to the stringent and very expensive regulations in California law. Its been a long time so I can't list them, but based on how crazy they are in my field, I can't see them being any better in the energy industry