Hoarding is exactly what the government is doing right now by filling the SPR, and frankly it's the best thing that could happen. It drives prices up. High prices encourage demand destruction. They also finance new well development. The hoarded oil gives us a buffer to fall back on once shortages become more prevalent. High prices are what we need in order to adapt to what's coming, and the sooner they happen, the better.
Posted: Wed Jun 02, 2004 8:21 am Post subject: Enron
Have you heard the tapes CBS aired last night, where Enron traders are gloating over sticking little old ladies with high energy prices, plotting to turn off power plants to raise prices, etc.?
And when they were found out, and the utility tried to get its money back, they were upset.
Quote:
"They're f*cking taking all the money back from you guys?" complains an Enron employee on the tapes. "All the money you guys stole from those poor grandmothers in California?"
"Yeah, grandma Millie, man"
"Yeah, now she wants her f*cking money back for all the power you've charged right up, jammed right up her @ss for f*cking $250 a megawatt hour."
They are laughing their heads off all while they are saying this. So much for the idea of working together to solve our energy problems.
Joined: May 23, 2004 Posts: 196 Location: Charlottesville, Virginia
Posted: Wed Jun 02, 2004 11:48 am Post subject:
Yep, truely disgusting. I work for GE, and I have no illusions about the benevolence of the company. When times get rough, the executives will take the money and run. We hear constantly at work how concerned the company is about the welfare of the employees. We have the benefits we do because over the years the union has wrung concessions from the sticky fingers of management. If you work for one of these large corps, don't believe the hype. Watch your money and convert it to cash in your pocket as soon as you have even a hint that the company MAY be in trouble.
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