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Enron Mail |
Stamos,
Glad everyone had a good time at Sweets'. I hope he had a blast. In terms of your email reply, you can have Calpine. How are they going to make money long term if price caps are instituted? This obviously would be the stupidest policy. In addition their exposure to the CA crisis must be pretty significant - when and how are they going to get paid? I wouldn't want to bank on the energy market in the most regulated state in the country. Plus, if the state backs energy purchases, it's going to get to the point where who wants to own CA credit?? PG&E and Edison International are doomed, as they should be. The state of CA is going to go down the tubes unless they find some good leadership. Unfortunately, noone out there seems to have the least clue on how to solve the problem. The politicians are a complete joke. It is incredibly disheartening to witness the absolute stupidity of the CA politicians in addressing this issue. They seem to be much more focused on finger pointing than coming up with a viable solution. I honestly think they are incable of solving the problem. KR
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