Comment Re:It worked so well in California... (Score 1) 551
The blame for California's energy "crisis" in 2000 lies with one company - Enron. There are recorded conversations between Enron and the power plants where Enron asks the power plants to shut down for "maintenance" to reduce supply, thus driving up the price. Enron traders were recorded laughing at California's misery and mocking them for having to pay high prices. Once price caps were instituted, the energy "crisis" ended.
California's deregulation was a joke to Enron who made billions at the expense of California residents.
Watch "Enron: The Smartest Guys in the Room".