Reply #28: When Davis signed those contracts .... [View All]

The spot market was unstable and gyrating WILDLY out of control ...

By signing those long term contracts: ... Davis received a LOWER price than the spot market, but it was a HIGHER price than the previous long term prices ....

By signing the long term deals: ... Davis STOPPED the gaming activity, but at the price of committing the state to a higher price, which became an obvious mistake as the spot market price dipped BELOW the contract price ....

Davis tamed the wild beast, there is no doubt about that: .. and he took the wind out of the gamers sails ......

Nevertheless: ... he COULD have instead re-regulated the industry, or even asserted Eminent Domain rights, and had the state take over the offices and facilities of the energy concerns for the good of the people of the state of California ....

Davis's action were not ideal: .. he could have done better: .. but he was NOT responsible for the 'crisis', which was manufactured by the friends of the GOP in Texas: .... THEY defrauded the citizens of the Weat, THEY committed criminal acts through that fraud ... Their auxiliaries in government, including FERC, Congress and the Administration, helped make the fraud possible, and in fact aided the crime .....

Davis is guilty of a poor reaction ... but he was NOT the cause of that phony crisis and its gouging fraud ...

The GOP is responsible for committing these CRIMES in California .... NOT Davis ...