Schwarzenegger's Folly
Oh the lessons we've not learned! A mere four years ago, as you may remember, California suffered rolling blackouts. Electric power supplied to consumers in the state did not meet the demand. Curiously, there was no shortage in neighboring Oregon, Nevada, or Arizona. Why? Many reasons, and all specific to the oddity we know as the Golden State. The two major reasons were 1) a failure to build enough power plants to generate electricity within California, forcing California utilities to import power from neighboring states and 2) price controls that prevented California utilites from recouping higher costs demanded by out-of-state energy providers during a spike in nationwide energy prices. They couldn't generate enough power themselves, and as the public utilies went bankrupt due to balance of payment problems, many utilities outside the state became unwilling to supply more power. But the conventional explanation that seems to be accepted these days is much simpler: "Enro...