from Hopkins at tabletalk:
Enron Traders Caught On Tape
When a forest fire shut down a major transmission line into California, cutting power supplies and raising prices, Enron energy traders celebrated, CBS News Correspondent Vince Gonzales reports.
"Burn, baby, burn. That's a beautiful thing," a trader sang about the massive fire.
Four years after California's disastrous experiment with energy deregulation, Enron energy traders can be heard – on audiotapes obtained by CBS News – gloating and praising each other as they helped bring on, and cash-in on, the Western power crisis.
more ...
UPDATE:
kevin drum has a post about this at his blog. as always, he contributes some important, relevant facts:
By the way, did you know that beginning in 1977 California began a comprehensive campaign to improve energy efficiency using a combination of regulation and free market mechanisms? And that per capita energy growth was flat by the mid-1990s? And that California was one of the lowest per-capita energy consumers in the nation when the 2000 crisis hit?
No comments:
Post a Comment