Posted on 10/29/2019 7:18:57 AM PDT by SeekAndFind
“PG&E was regulated out of business.”
Astute comment of the day.
Buffet may be a liberal but he ain’t stupid.
>>PG&E was regulated out of business. Let California own the utility, it’s worthless now anyway. And good luck in the future.
Why should the state get to loot the company. PG&E should just shut it all down and sell the materials for scrap.
PG&E - State envirowhacko forest management policy, and regulatory decisions to make PG&E expend resources in alternative energy projects instead of upgrading and maintaining transmission lines, and National Grid - refusing to serve more new customers with their aging distribution system and no gas capacity because NY refused a new gas transmission pipeline. So both governors are looking for some foolish white knight to ride in on a flaming unicorn and solve their self-inflicted problems.
Fascist takeover of what are currently over-regulated monopolies won't solve the existing government regulatory excesses.
I worked for PG&E for 35 years. The reason I went to work for them was because of their responsible, civic-minded leadership and respect for the environment. However, the whole time I worked there, PG&E was beset by attacks from all sorts of environmental groups, and politically-motivated over-regulation by the CPUC. This fight has never been over PG&E mis-management. The opponents hate the idea of a privately-owned public utility.
Warren Buffet likes to buy companies that make him money, not buy constrained bankrupt companies just so he can take it up the “Hoo Hoo”.
“Both California and New York will conduct state takeovers of their utility companies, furthering socialism and ensuring lucrative jobs and positions for family/friends and unqualified special interest groups.”
and rates will skyrocket and/or reliability will only become substantially worse ... exactly like the situation in Venezuela ...
This is the result of running and electing politicians instead of people with business experience and ‘commonsense’. We can see it across the board in this country, Kalifornia, New York, Oregon, Washington State, and ???
Occasionally, they will fire a scapegoat to placate the masses. They will talk about how power they buy from out of state is outrageously expensive.
But nothing will change and the people will continue to vote for Democrats because they do think for themselves.
If newsom and his dem pals just pooled their pocket change from bribes, they could buy the utility many times over.
They need to pump more Green Energy into those power lines. I understand that Green Energy doesn’t start fires.
PG&E is an investment banker controlled financial cash cow. They treat its customers like they treat the Third World - austerity is the loan collateral. PG&E cut maintenance precisely to increase stock payouts to the institutional investors. Kill the monopolists.
YouTube X22 Report.
That’s why I suggested the alternate for Newbie
His HW pals
If you don’t raise rates for 40 years you can’t keep up with proper maintenance of the lines and right of ways. If I were PG&E I would declare bankruptcy and tell the state we are done, its yours and toss them the keys to the building.
That being said in the state I live my current electricity provider abuses us with never ending rate increases. Every two years like clock work they ask for 2-7% increase and the Public Service Commission bends us over and tells Kentucky Utilities, be gentle with them. One extreme to another...
Bingo!
Your 100% correct.
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