Not all forms of "deregulation" are equal.
The terms of debate must include precise and accurate descriptions of the various state schemes that contributed to this mess.
The good news- overall macro economics will still kick in at some point.
People who need power will acquire it by other means as the price of centralized power floats to unacceptably high levels.
Nowhere is it written all power must be centralized to be efficiently produced and distributed.
We can only hope that the Davis administration people who invested in energy stocks this summer lost a bunch of money.
| Price: 11/30/01
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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!