[lepton]

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.

[Carry_Okie]

Indeed, funny how that works. Higher prices brought more supply... gosh.