Friday, November 26, 2004

SACRAMENTO -- Although Arnold Schwarzenegger says he won't make up his mind for months about whether to run for re-election, he is using a trip to Texas next week to raise money for his 2006 campaign account.

The governor plans to receive an award for public service from former President George H.W. Bush on Tuesday night. Then, he will raise an expected $150,000 or more at a small breakfast gathering the next day in Dallas, a city considered the Mecca for Republican fund raising.
Source

and we are reminded by barklley on DU:
Recall that CA separated the power industry into two pieces. Generators, like mainly owned by out-of-state companies, such as Dallas-based Reliant Energy to produce power and sell it wholesale to utilities, which then sell retail power to consumers.

Reliant Energy benefited greatly from the run up in electricity wholesale prices. There is mounting evidence that Reliant and others acted so as to restrict output and raise prices; in other words become the Generators such as Reliant were price makers in the wholesale market

Reliant Energy?s profit margin from generating electricity in California was $327 million in 2001. Soon thereafter, Pacific Gas and Electric filed for bankruptcy protection.

One of the primary factors that lead to the energy crisis was the market power of generator which helped robbed CA of more than $8 billion.

Now they're going to line Arnold's pockets so he'll squash any serious investigation into their criminal practices.

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