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Read the newspapers. What ever problems the power companies/traders suffer is of their own doing.

What's lost in all the noise about round-trip trading and creative accounting is the fact that the United States still faces a host of energy problems but has yet to come up with any viable solutions.

On the one hand he rallies for "deregulation" so the crooks he described would come up with the solution on the other he wants the government (regulators) to come up with solutions.

(Texas') PUC staff suggests $7 million fine for Enron

the companies artificially created shortages on transmission lines by overscheduling power at certain times. Those companies were then paid to remove electricity from the state's power grid so other providers could meet their demand.
The PUC report said Enron Power Marketing, or EPMI, a unit of Enron Corp., engaged in "enormous overscheduling" of power during a test of the deregulated market.
a fact the staff took into consideration in recommending the hefty fine. Lanford said other factors are the "egregiousness and repetition of the violations" and "previous history of violations."
Enron scheduled load more than 500,000 percent over its power needed to cover the demand in the north zone and more than 1,000,000 percent over its actual load for the west zone.
Reliant Energy Services earned $3.5 million by overscheduling power last summer.

There's an example of deregulation Texas style. Deregulation is at best a joke and at it's worst a scam on the captive rate payers.

You need to be a little more focused here.

Reliant Energy Services earned $3.5 million by overscheduling power last summer.

This is a substantial amount of money, but it's so little compared to the magnitude of the overall energy crisis that it makes me wonder what's going on here.

There's no way you can shift blame from Davis to energy companies unless you find profits that are substantial, not puny.

Dog Gone, I'm about to make a very small investment in Calpine. I remember you were broadly against it; could you summarize your reasons again? It seems to me that Calpine was unfairly tarred with the Enron brush, and so it should pop back up to a higher amount, say $20 or so from its current value of under $10. I have a great deal of respect for your judgement in these matters, so your ideas would be appreciated.