Re: The Cost of Natural Gas [was Re: The Cost of California Liberalism]
For those who care, take a look at http://www.nytimes.com/2000/12/10/opinion/10KRUG.html which is an op-ed piece by an MIT Economics prof. describing the California situation in the same terms I have. He cites a paper which in turn cites evidence that artificial shortages were previously created in the UK (1996) and California (1998 & 1999). Unfortunately no detail, but it is more than just random conspiracy theory. While no doubt a good number of the readers of this list will consider him to be a Communist from the People's Republic of Cambridge, perhaps most will at least admit he knows more than basic economics 101. Even if you don't care about natural gas or California's deregulation brownout, it is a good example of why "free" markets, economies, societies, etc. don't really work.
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For those who care, take a look at http://www.nytimes.com/2000/12/10/opinion/10KRUG.html which is an op-ed piece by an MIT Economics prof. describing the California situation in the same terms I have. He cites a paper which in turn cites evidence that artificial shortages were previously created in the UK (1996) and California (1998 & 1999). unfortunately no detail, but it is more than just random conspiracy theory.
He describes the california system as "deregulated", but the fact that it takes many years to get permission to build a power plant -- that it takes longer to get permits than to actually build one, is undoubtedly a contributing factor to the crisis. --digsig James A. Donald 6YeGpsZR+nOTh/cGwvITnSR3TdzclVpR0+pr3YYQdkG JXy269kdEdLHKEQ2b/5GVMHAZPjYHXf7xg8R1IyY 44A7PM67XbbrgFVYUWSF3uYbJ6dBoiZ6gwM+yy4xp
On Fri, 29 Dec 2000, James A. Donald wrote:
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For those who care, take a look at http://www.nytimes.com/2000/12/10/opinion/10KRUG.html which is an op-ed piece by an MIT Economics prof. describing the California situation in the same terms I have. He cites a paper which in turn cites evidence that artificial shortages were previously created in the UK (1996) and California (1998 & 1999). unfortunately no detail, but it is more than just random conspiracy theory.
He describes the california system as "deregulated", but the fact that it takes many years to get permission to build a power plant -- that it takes longer to get permits than to actually build one, is undoubtedly a contributing factor to the crisis.
Odd. If it's "deregulated", why do the power companies have to ask CPUC's permission to raise rates? I don't think "deregulated" means what he thinks it means. Bear
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Ray Dillinger