Tuesday, July 25, 2006

Gray Davis Vindicated; Long Term Contracts a Good Deal After All

Little risk to Schwarzenegger of blackouts, thanks to Gray Davis:
Despite the heat wave that pushed energy use to an all-time high this week, experts say Governor Schwarzenegger probably does not have to fear the blackouts that ended former Governor Davis' political career.

And he has Davis to thank for that.

The long-term contracts Davis signed, at great political cost, guarantee plentiful energy for the next few years at what now look like good rates.

Davis was recalled from office in 2003 partly because of the energy crisis.

Schwarzenegger's Democratic opponent, state Treasurer Phil Angelides, is warning of "a new energy crisis." He says Schwarzenegger has not built enough power plants.

But today's situation is different from the energy crisis, because experts say California isn't likely to run into the shortages that occurred in 2000 and 2001 because of market manipulation.

Shall Gray David be Recalled?" was the question on the ballot.

The vote fell out along similar lines/counties as the Bush vote - California's central valley is conservative, or green; the coastal cities trend toward the left, or red.

Greg Palast asks "After the profiteering from Katrina, after the California power scandal of 2000, after the Great Black-out of 2003, even after the hand-cuffing of Ken Lay, why are we still under a deregulation regime that Ken Lay seems to rule from the grave? Why is it that we're still at the mercy of power vampires?"

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