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Old 06-03-2004, 07:46 AM   #1
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Enron traders: We robbed California

I'd hate to say "I told you so," since I mentioned this fact a long time ago, but here's the actual evidence that Enron gouged California; and if there was ever a need to see Dick Cheney's energy policy papers that he crafted with Kenneth Lay, this is it.

http://money.cnn.com/2004/06/03/news...reut/index.htm

Quote:
Enron Corp. traders gloated about manipulating West Coast energy markets during the California electricity crisis in 2000-2001, according to telephone transcripts filed with federal energy regulators by a small public utility district in Washington state.

The Snohomish County Public Utility District near Seattle filed the transcripts at the Federal Energy Regulatory Commission in connection with efforts to recover millions of dollars for rigged electricity costs.

Utility officials said Wednesday the transcripts, which are spiked with profanities, "provide definitive evidence" that Houston-based Enron artificially congested West Coast transmission lines to reap profits in the electricity market.

They also suggest that Enron's top executives, including Ken Lay and Jeff Skilling, were aware of illegal gaming of the power market, the utility district said.
But I hate to say something else prophetic, but I will: Californians, your president likely encouraged this gouging, as private industries have long wanted higher energy prices, as regulated prices are unprofitable, and that's why he's crying "executive privilege." If I were you, I'd demand those energy papers. "Executive privilege" is for monarchies and dictatorships, not a representative democratic government.

I'd also look suspiciously at oil costs. Bush, when prices were very low in the late 1990s, said that he'd like to see prices higher, and I should mention that his administration has actively promoted those higher prices by buying lots of oil for those "strategic reserves," maintaining the frenzied stockpiling even during high oil prices. I have my doubts about his true intentions.

But I'm just some cynical "liberal." What do I know?

Melon
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Old 06-03-2004, 10:06 AM   #2
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This is not news that Mr. Bush has 'punished' California ever since we voted against him. There are many things he and his administration have done to roll BACK progress in California. Gotta love rigged elections, First Ladies that kill people, and ex-addicts as President. The system works *cough*.
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Old 06-03-2004, 10:18 AM   #3
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Re: Enron traders: We robbed California

Quote:
Originally posted by melon

I'd also look suspiciously at oil costs. Bush, when prices were very low in the late 1990s, said that he'd like to see prices higher, and I should mention that his administration has actively promoted those higher prices by buying lots of oil for those "strategic reserves," maintaining the frenzied stockpiling even during high oil prices. I have my doubts about his true intentions.
Of course its kind of a pick your poison scenario, cause if Kerry gets elected, hopefully we'll see lower oil/gasoline prices, but ketchup will be $42.00 a bottle.
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Old 06-03-2004, 10:57 AM   #4
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Ketchup will be $42.00 a bottle if Kerry's elected? I haven't heard anything about a ketchup tax.
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Old 06-03-2004, 11:05 AM   #5
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Damn I guess i'll just have to stick to mustard
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Old 06-03-2004, 11:22 AM   #6
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Quote:
Originally posted by verte76
Ketchup will be $42.00 a bottle if Kerry's elected? I haven't heard anything about a ketchup tax.
Fortunately ketchup has not been this country's #1 condiment for a few years... Ranch Dressing has been. So Kerry somehow inflating the price of ketchup would only hurt the ketchup business. However, I'm sure he could find a way to spend more tax payer money and subsidize more tomato growers.... thus lowering the cost of doing business for the ketchup industry and giving an unfair advantage compared to the Ranch Dressing producers of the world It COULD happen. lol.
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Old 06-03-2004, 11:26 AM   #7
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These Enron antics are exactly the reason why a lot of Europeans are sceptical toward opening up the energy market. Call me a cynic, but I just don't trust these big corporations in such an important market.
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Old 06-03-2004, 11:28 AM   #8
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That's the energy market, not the ketchup market.
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Old 06-03-2004, 11:57 AM   #9
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Bush/Cheney are robbing this country blind. I'd say Cheney is the
brains behind the operation. But, you never know about Bush.
His dumbness may be partly an act. Behind closed doors with
Cheney, he probably laughs at how easily most of the American
public have fallen for his patriotic act.
Cynical.......moi? Yep afraid so. I don't believe anything anymore
coming from this crooked administration.
"Teapot Dome" scandal? Remember that boys & girls from U.S.history class? What Bush and his cronies are doing to the
country over-shadows that scandal to the n'th power!
Raise for the flag salute and blindy follow your leader(s).

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Old 06-03-2004, 12:02 PM   #10
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I think he was making a joke about Teresa Heinz Kerry
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Old 06-03-2004, 01:21 PM   #11
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And lets not forget that Heinz makes mustard and relish as well, next year's Memorial Day BBQ:
$35.00 for hot dogs and hamburgers
$6.00 for buns
$1,100.00 for condiments
Lurch in the White House: Priceless
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Old 06-03-2004, 02:16 PM   #12
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Enron should be punished to the full extent of the law.
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Old 06-03-2004, 03:01 PM   #13
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With every passing day I become more embarassed to be human let alone American. Each and every day we hear about these types of stories: seemingly good-natured people turn out to be evil, lying, manipulative bastards. When will people start to see the worst in people before they fool themselves into seeing the good?

Melon, I was with you during the price gauging of 2000-2001, but figured I was being slightly paranoid. I was probably with you on the CIA leak of Joseph Wilson's undercover wife too...and the cover-up of all those 9/11 "connections".

I wonder if America really deserves good leadership, because when we're given the chance we collectively keep the liars, cheaters, and unethical bastards in office!
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Old 06-03-2004, 05:38 PM   #14
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Why do they turn in to evil, lying, manipulative bastards? Is there sense of worth tied to their ability to make a profit? Or is it the rush from closing a deal? Is it the thrill of using power when no one is looking?
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Old 06-03-2004, 06:11 PM   #15
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I do think it has a lot to do with greed, because for a small, but powerful minority in this nation, the wealth of their company means a lot more wealth for them--even if that means doing it at the expense of the working class.

But look at how we deem what is "recession" and what is "prosperity"? It has little to do with how well the working class is doing; it has everything to do with *continuing growth* in corporations. I emphasize the *continuing growth,* because I've seen first-hand with the own company that I work for. Last-quarter means nothing; the new goal is to top it for the next. So, ultimately, corporations will lie, cheat, and steal for *continuing growth,* so the top end of the company can please their investors and justify the gratuitous salaries that they carry.

It's a mess, and the fact is that these same people are either in our government or have lobbied it into submission, because, what it all comes down to, is being able to fund your party for the next election; and looking at Bush's gigantic pot of money, it's clear that the wealthy corporations like what he's doing. For the rest of us, I don't think that's a good sign at all.

Melon
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