Special Report: Energy crisis built steam as officials mishandled it
"Utilities' finances cratered. Ratepayers' power bills doubled. And Gov. Gray Davis went to a fund-raiser.
By the time Davis' 15 guests had concluded their cozy dinner at the Sutter Club May 31, 2000, they had dined on salmon and warned the governor one-by-one that a crisis was on the horizon.
Within weeks, the governor had collected $85,000 in campaign contributions from his dinner guests: energy company executives with whom he soon would be at war.
From that day forward, as the crisis escalated into a financial catastrophe for California, Davis would find himself under fire for his actions -- or what foes considered complete inaction.
"Because California banked on buying power daily instead of relying on the long-term contracts used elsewhere, it ended up paying the most."
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