gouging

Stuck on the phone so I thought I'd email you. Stan has asked Mike Moran if
TW has any potential exposure on the high value transport deals under "anti
gouging" statutes or common law. You know, the laws that say you can't
charge $100 per sheet of plywood during a hurricane or $50 for a bucket of
water during a drought. I think we need to research two things:
1. are there any such laws applicable to our business? (Cal. state law
would probably be the best place to start)
2. could the political/regulatory fight in Cal about power and gas prices
ever expand all the way to our transport pricing? I.e., if the CPUC whacks
the power sellers for taking unfair advantage of their monopoly power, its
not a big leap for the CPUC or FERC or even U.S. congress to whack gas
sellers for jacking prices up to $14/MMBtu, as happened on Friday. If that
happens, its just another small jump to whack us for charging $1 for
transport, or so the logic goes. I'd like to hear preliminary views by 8:30
Monday am so I can talk to Mike before Stan's staff meeting (no written memo
necessary). Based on that prelim. research, we can decide what else need s
to be done. Thanks df