Posted on 01/05/2019 3:56:02 PM PST by Navy Patriot
Edited on 01/05/2019 4:15:51 PM PST by Jim Robinson. [history]
bloomberg content cannot be posted to fr
Let them go bankrupt. Someone will buy the assets and probably run it much more efficiently. Purchase price will go to the creditors.
Expect lots of people to sue the state over the state’s negligence related to the fire.
The state will still go ahead with its $50+ billion rail project.
I believe that over 80% of the Hoover Dam generation goes to CA.
PG&E stock used to be a staple in every retirement plan in California. Could lose a lot of retirees some income if it goes bankrupt.
Yeah let’s cut down every tree within 100 ft of a power line. That’ll fix the problem.
I agree. California will take over PG&E, promise free electricity to the illegals and the high speed train and cheap rates to the Silicon Valley and Hollywood libs, and then, in a few months or years, have to condition the working citizens of the state to accept the rolling brownouts as the new normal.
This stuff writes itself..
As a former volunteer firefighter, I have been called to at least one fire caused by trees hitting a power line in high winds
Your prediction of the state taking over PG&E is probably correct. Some judge will have to read through the paperwork. He might go and offer the assets to another utility company but I can’t imagine anyone seeing a way to be profitable with the laws in place.
So, the state will make up some 5th-grade path with the asset, maybe even renaming it. Then dozens of people will be hired to ‘soak’ more money out of the system, and make it even more bankrupt in five to eight years, with a billion dollars a year likely going to the asset from the state, to keep it running. At some point, when enough of these state activities are in full-bloom, it’ll be like the Titanic having left the surface, heading straight down to the bottom of the ocean. The state will suffer some massive crash. Everyone who holds some pension with the state, had best prepare for your future to be carved up.
This is where Snake Pliskken presses 666 into the remote control
Works for me...Californians can watch TV by candle light!
The solar panels here are required to be tied into the grid so that any unused power generated goes back into the grid. When the power is down you lose power...solar or not.
I know, but they can be isolated, with battery backup...but I doubt even 1% operate that way, due to the cost.
Otherwise, they’re down when the grid is down...that simple.
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