The real Gene Coyle

[Eugene Coyle]

Thanks to all who answered the question -- everybody got it right.

The special tea recipe that fuels Ian was unavailable to me.

Michael asked what was the impact of the Calif electricity crisis on the 
state's budget crisis.

The answer Jim provided is simple but essentally close enough.  The cost 
is to the rate payers, although tax payers will pay a small amount.

In each year, 2000 and 2001 the customers spent roughly 27 or 28 billion 
for electricity that cost $7 billion in 1999 -- so there was a $20 
billion impost, money that flew somewhere, mostly to Houston -- to 
members of cafrtels of either electric or gas or both.

Rates will stay high for years, partly because Gov Davis shot himself in 
the vitals (couldn't even get 50% of the vote against nobody.)  Signed 
long-term contracts at the height of the price spikes.

So the economy was damaged, quite severely, but maybe hidden because of 
the national recession and in particular the Silicon Valley crash.

I'm just  back from Korea where I took part in a labor-sponsored 
symposium on privatization.  Interesting and exhilerating.

I'll report anon.

Gene