Eat this Venezuela!

[Asher]

While the concept is funny, the US would be in similar situations were it not for its proximity to Canada. Canada exports a massive amount of electricity and natural gas to the US to make up for shortfalls, an option Venezuela does not have.

[Asher]

You didn't live through the California energy crisis.

This.

Texas also had to ration electricity use (their tool was rolling blackouts) in 2006...

[KrazyHorse]

You didn't live through the California energy crisis.

The California energy crisis was fundamentally caused by the same mechanism operating in Venezuela: the imposition of government price caps on electricity.

[Saras]

I love it California energy crisis is used by silly pinko commies to show how "capitalism is evil" when silly pinkos caused this by overregulation, strangling new capacity construction etc. Even we, a piece of the now-dead-USSR manage better.

Silly pinkos

[David Floyd]

What Saras said.

Additionally, I don't recall ever being affected by a rolling blackout in 2006, nor was any bar, restaurant, or other establishment which I frequented at the time, nor, in fact, was anybody I knew.

[Dinner]

I love it California energy crisis is used by silly pinko commies to show how "capitalism is evil" when silly pinkos caused this by overregulation, strangling new capacity construction etc. Even we, a piece of the now-dead-USSR manage better.

Silly pinkos

Sorry buddy but you're totally completely wrong. Over 40% of the state's electrical generating capacity was deliberately shut down during peak periods due to market manipulation and several people, with Enron people in the lead, got sent to jail for it. It really was deregulation which caused it as it allowed for deliberate market manipulation.

Please educate yourself on the facts of what occurred and who got convicted. I'm not even close to a pinko but, come on, get at least the basic facts right.

[Kidlicious]

The California energy crisis was fundamentally caused by the same mechanism operating in Venezuela: the imposition of government price caps on electricity.

Actually, the price caps were in effect for a long time. They were working quite well. Then some right wing nuts decided that it would be a good idea to remove them. That's what caused the crisis.

[KrazyHorse]

Sorry buddy but you're totally completely wrong. Over 40% of the state's electrical generating capacity was deliberately shut down during peak periods due to market manipulation

The market manipulation you're talking about wouldn't have been possible without the caps on prices charged to residential consumers.

The intermediaries who sold electricity were not allowed to alter demand by changing prices, and weren't supposed to be able to shut down supply, so they were forced to buy high and sell low.

[KrazyHorse]

Actually, the price caps were in effect for a long time. They were working quite well. Then some right wing nuts decided that it would be a good idea to remove them. That's what caused the crisis.

So there WEREN'T price caps on residential consumption during the crisis?

"Believe me, if I wanted to raise rates I could have solved this problem in 20 minutes"
-Gray Davis, Feb. 2001

[Kidlicious]

If you market conservatives had your way hospitals wouldn't have electricity.

[KrazyHorse]

Yes, because hospitals can't afford to purchase electricity at market rates.

[Kidlicious]

So there WEREN'T price caps on residential consumption during the crisis?

"Believe me, if I wanted to raise rates I could have solved this problem in 20 minutes"
-Gray Davis, Feb. 2001

If the economy would have been planned there would never be any shortage. Don't even think otherwise. The fact is that deregulation caused the crisis. Don't try and twist things around.

[Kidlicious]

Yes, because hospitals can't afford to purchase electricity at market rates.

Not only that, but there's a lot of elderly and sick people who depend on life saving devices that wouldn't be able to afford market rates.

[KrazyHorse]

If the economy would have been planned there would never be any shortage.

There were no shortages in planned economies???

You're back to being a ****ing ****.

The fact is that deregulation caused the crisis.

No, what caused the crisis was leaving price caps in place at a certain point in the chain, but removing them at another point. It's called arbitrage. Fun and profitable.

Why was there a crisis? Because of a legislative distortion of the energy market. Pure and simple.

****.

Also, I thought you weren't any sort of commie any more? What's with the praise for planned economies then?

[KrazyHorse]

Not only that, but there's a lot of elderly and sick people who depend on life saving devices that wouldn't be able to afford market rates.