Posted on 05/08/2002 1:02:01 PM PDT by ElkGroveDan
GOVERNOR DAVIS CONTINUES FIGHT AGAINST ENRON AND OTHER ENERGY PROFITEERS
Urges Attorney General Ashcroft to Initiate Criminal Investigation
SACRAMENTO Governor Gray Davis today sent the following letter to Patrick Wood III, Chairman of the Federal Energy Regulatory Commission (FERC), restating his position that California was taken advantage of by Enron and other energy traders during the state energy crisis:
Yesterday's release by the Federal Energy Regulatory Commission of documents relating to Enron's abuse of California's energy market confirms what California has been saying for well over a year now: our markets have been manipulated. It gives further credence to my oft-stated belief that California was taken unholy advantage of by Enron and other energy traders. These memos amount to a confession by Enron of its efforts to defraud California consumers; they may involve criminal violations as well.
Through its greed and possibly illegal manipulation, Enron did incalculable damage to California's economy - and thereby to the national economy. That is why I am joining my colleagues, Senators Dianne Feinstein and Barbara Boxer, in urging Attorney General Ashcroft to initiate an immediate criminal investigation into Enron's role in the matter.
In the face of these revelations, I also call on the Commission to release all other materials in its possession relating to Enron's role in manipulating the energy market in California and the West. This should include any letters, e-mails, memoranda and other communications - either way - between elected government officials and Enron from 1996 when California's electricity deregulation law was passed, through 2001. But this must not stop there. There are at least five more, important points:
One, the Enron memos say things such as "although Enron may have been the first to use this strategy, others have picked up on it too." "Traders claim that 'everybody does this.'" California has previously submitted material to FERC identifying others who manipulated the market. It is past time for FERC to investigate the extent to which others, in addition to Enron, engaged in the manipulative practices described in Enron's confession.
Two, California's ISO rules have failed to stop this kind of manipulation. When our ISO proposed tougher rules this year - indeed rules such as those which FERC has permitted Eastern ISOs to use - FERC rejected those proposals. FERC must permit our ISO to have stronger rules.
Three, it is clear that California's markets are still susceptible to manipulation. Nothing will change that between now and September 30, 2002. It is imperative that FERC continue the West-wide price caps and must-sell rules after September 30.
Four, the Enron memos confirm the abuse of market power by many who gouged California. FERC must remedy this by granting full and complete refunds in the proceeding now before it.
Fifth, this is further confirmation of the fact that California was forced to defend itself by entering into long-term contracts at a time when the market was dysfunctional. FERC must reform those contracts in the current proceeding brought by the Public Utilities Commission and the Electricity Oversight Board.
Thank you for your serious and expeditious attention to these important matters.
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Honest. I ran outta gas.
I had a flat tire.
I didn't have enough money for cab fare.
My tux didn't come back from the cleaners.
An old friend came in from outta town.
Someone stole my car.
There was an earthquake,...
...a terrible flood,
...locust's.
It wasn't my fault!! *
Scope of power-price inquiry widens:
FERC investigation.
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Please save me from my stupid mistakes which I bragged about at the time!
It's NOT our fault!
How could this happen, after all THEY did for me? They bought me off, and then screwed my taxpayers. How shameful THEY are.
IT IS PETEY WILSON'S FAULT SIGNING THE PHONEY DEREGGING BILL THAT I AND OTHER RATS WROTE WORD FOR WORD!
GW AND DICK CHENEY MADE ME DO IT!
SIMON MADE ME DO IT!
I'M INNOCENT! I'VE BEEN FRAMED!
I KNOW NOTHING ABOUT ANYTHING!
I SAW NOTHING! HEARD NOTHING! I SAID NOTHING!
IF I DID ANYTHING, IT WAS TO SAVE ABORTION, THE GAY AGENDA, ILLEGAL ALIENS AND FOR THE STARVING CHILRUN!
I WAS BUSY BATTLING ENRON, SAVING THE CALIFORNIA ECONOMY
I KEPT THE LIGHTS ON & THE PRINTING PRESSES RUNNING FOR KALIFORNIANS !
I WAS BUSY RUNNING UP A RECORD DEFICIT FOR KALIFORNIANS!
MY PET RATS AND MAGGOTS ATE MY ENERGY POLICY!
HOW I BATTLED THE EVIL ENRON/GW/CHENEY AND KEPT THE LIGHTS ON!
Surely this did not come from his website!
DAVIS FIGHTING HARD FOR THAT BRIBE MONEY FROM EVIL POWER COMPANIES!
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