Posted on 06/12/2005 8:57:00 PM PDT by NormsRevenge
Former Gov. Gray Davis now admits he was unprepared for the 2000-01 energy crisis that sent electricity bills soaring, brought rolling blackouts and ultimately helped bring an early end to his political career. Davis, recalled by voters in an unprecedented move, was replaced by Gov. Arnold Schwarzenegger in October 2003, a year after Davis had won a second term.
The former Democratic governor said he erred by buying power at inflated rates during the height of the crisis, but said he acted because he "wasn't willing to risk" sustained blackouts.
"Did it turn out to be a mistake? Yes," Davis said during a speech Friday before the Commonwealth Club of California in San Francisco.
Davis blamed bad advice from the Federal Energy Regulatory Commission as he tried to respond to manipulation of the state's energy market by traders from Enron Corp. and other energy companies.
"When I ran for governor in '98, not a single human being asked me about electricity," Davis said at a conference on finding ways to reform California government and politics. "I knew nothing about electricity. ... I wish I knew as much about electricity then as I do now."
Davis said the state's 1996 deregulation law, signed by GOP Gov. Pete Wilson, was a "colossal mistake" that allowed unethical energy traders to rip off consumers in the "the biggest robbery since the Brink's robbery."
He also criticized federal energy regulators for failing to stop Enron traders from practices like urging that power plants be shut down to drive up electricity costs.
"Enron (traders) were like the old wildcatters," Davis said of the company now in bankruptcy protection. "They had no care about tomorrow. They just wanted to sweep every nickel, every dime out of California because they had no idea how long this party would last."
Davis declined to comment on Schwarzenegger's performance, but noted his successor has eclipsed his old record for campaign fundraising from special interest groups. Davis was roundly criticized for his fundraising while in office, but Republican Schwarzenegger gathered $28.8 million last year -- more than twice what Davis raised in his first year in office.
"This is one race I am happy to lose," Davis said. "I always knew those criticisms that I was a world-class spender would be eclipsed by someone, and it was eclipsed by Arnold. I'm delighted someone has passed me."
Don't forget... He served in Vietnam, too!!! Just like scarry Hairy Kerry!!! (you remember him dont'cha... The Fonda Babe Magnet?!?)(Phhhhht!!!)
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