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Enron's Swoon Imperils Grand Experiment
Wall Street Journal ^
| November 30, 2001
| Rebecca Smith, WSJ Staff
Posted on 11/30/2001 2:10:53 AM PST by snopercod
Edited on 04/22/2004 11:45:44 PM PDT by Jim Robinson.
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To: Tuco-bad
The main reason that we had lower energy prices in California was threefold: 1) we had one of the coolest summers in decades, and 2) Energy consuming businesses cut operations, left, or stopped planned expansion (we call that a recession Tuco dear), and 3) Davis bought so many power contracts that he later had to sell the excess and those sales drove the price down further.
You are demonstrating the usual idiotic socialist reasoning that goes about two inches deep into a subject and therefore assumes sufficient knowledge to make investment decisions for everybody else. Meanwhile you apparently never considered that the airlines are a heavily subsidized business and might lose to economic substitute goods such as fiber-optic teleconferencing if regulations were removed. Why is that a bad thing?
To: Hugh Akston
Overstatement alert on my part. Government regulation in most cases is a bad thing.
To: Tuco-bad
Tuco;
Long time no see.
Hugh do alarms go off on your pc when Tuco chimes in?
23
posted on
11/30/2001 7:31:17 AM PST
by
CPT Clay
To: Tuco-bad
Did I ever say different? I thought government regulation was going to save us all. Why didn't it save us from Enron and Gov. Davis?
To: Tuco-bad
"First the federal governmnet deregulated the airline industry, and now we're spending $billions to bail the industry out. Then the federal government deregulated the energy industry, and now it's costing taxpayers/investors $billions of dollars.
What's next to deregulate, the military?"
AmTrack (ooops, that one is highly regulated, and it is already costing taxpayers Billions).
25
posted on
11/30/2001 7:43:46 AM PST
by
Southack
To: hopespringseternal
When the re-insurers fall?
26
posted on
11/30/2001 7:49:06 AM PST
by
bvw
Comment #27 Removed by Moderator
To: bvw
When the re-insurers fall?When that happens...the fit will really hit the shan. When companies can no longer off-load their real liabilities/exposure because the re-insurers aren't out there...there will be interesting times.
28
posted on
11/30/2001 8:03:34 AM PST
by
beowolf
To: snopercod
Great article, not much to disagree with.
We can only hope that the Davis administration people who invested in energy stocks this summer lost a bunch of money.
Price: 22.04 Change: -0.34 11/30/01 12:31 PM (minimum 20 minutes delayed)
|
From a high of 60 to nearly 20. They must have lost some money, certainly would not have made much unless they were holders before the crisis started!
To: Carry_Okie
Energy consuming businesses cut operations, left, or stopped planned expansion (we call that a recession Tuco dear), Energy consuming businesses cut operations, left, or stopped planned expansion because of HIGH energy prices thanks to scams ENRON etc. were running (we call that CREATING a recession Carry_Okie dear),
30
posted on
11/30/2001 10:03:23 AM PST
by
Tuco-bad
To: hopespringseternal
I thought government regulation was going to save us all. Why didn't it save us from Enron and Gov. Davis? Becasue the energy market in California was deregulated.
31
posted on
11/30/2001 10:05:40 AM PST
by
Tuco-bad
To: snopercod
And California, the first big state to deregulate its electricity market, has watched its experiment turn into a disaster An absolute unmitigated lie. California has never deregulated the electricity market.
32
posted on
11/30/2001 10:07:40 AM PST
by
Demidog
To: Tuco-bad
The energy market was not deregulated. Hogwash.
33
posted on
11/30/2001 10:08:25 AM PST
by
Demidog
To: Southack
AmTrack (ooops, that one is highly regulated, and it is already costing taxpayers Billions). Never said all government regulation was good.
BTW - Are you still in business, I hear that companies out outsourcing much of their IT budgets to India, and engineering budgets (e.g., Boeing) to Russia.
If that's true, many of our high-tech friends on the Free Republuic will soon be on the bread lines.
34
posted on
11/30/2001 10:10:14 AM PST
by
Tuco-bad
To: Tuco-bad
Energy consuming businesses cut operations, left, or stopped planned expansion because of HIGH energy prices thanks to scams ENRON etc. were running (we call that CREATING a recession Carry_Okie dear) BZZZZZT wrongo! Shows how much you have been following the California power crisis. The biggest scammers causing high energy prices were PUBLIC power agencies, DWR, Bonneville, and LADWP. Best that you go to the calpowercrisis and calpowergate lists and start reading the couple of hundred threads you have apparently ignored. Now, that is not to say that there has not been manipulation of the gas market, but then you would have to ask Bill Clinton why he set aside the Western Slope of the Rockies and closed it to gas exploration. Guess who that benefitted?
To: Tuco-bad
Becasue the energy market in California was deregulated. Lie all you want, it will always be a lie.
So what lie do you have to tell about SEC regulation of Enron not preventing its downfall?
To: snopercod
Kind of odd to apply the energy de-regulation argument to fraudulant financial book-keeping, just because a company that did so was in the energy business.
37
posted on
11/30/2001 10:39:01 AM PST
by
lepton
To: bvw
Great idea actually. Deregulating the Military, that is. Actually a founding princible: check out the history of letters of Marque and Reprisal. Placing the profit incentive to find criminality with those who define criminality is a bad idea. Bounties work fine when those pursuing them don't get to create the call, and where those that create the call don't profit.
38
posted on
11/30/2001 10:42:47 AM PST
by
lepton
To: hopespringseternal
So what lie do you have to tell about SEC regulation of Enron not preventing its downfall? If the SEC let Lazio get away with insider trading, why should the SEC care about Enron?
39
posted on
11/30/2001 10:45:06 AM PST
by
Tuco-bad
To: Carry_Okie
The main reason that we had lower energy prices in California was threefold: 1) we had one of the coolest summers in decades, and 2) Energy consuming businesses cut operations, left, or stopped planned expansion (we call that a recession Tuco dear), and 3) Davis bought so many power contracts that he later had to sell the excess and those sales drove the price down further. You forgot: 4) Temporary higher prices supported increased well openings which increased supply. There are more than twice as many domestic natural gas taps as there were at the beginning of 2000.
40
posted on
11/30/2001 10:47:28 AM PST
by
lepton
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