American - Politician | December 26, 1942 -
Here is my general approach to the energy companies. You have already charged the utilities a 50 percent credit penalty for the power they were buying from you. You're charging us a penalty. You're not going to get two bites of the apple here.
Gray Davis
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I have not been briefed.
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We're not going to take this sitting down. We are fighting back.
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We're going to march on Washington with a host of Republicans, Democrats, business leaders, legislators.
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There are so many scenarios here. We tried to prepare for the worst summer in 40 years and build assumptions based on that. We're preparing for the worst, but we're hoping for the best. And I've told people the end is in sight.
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Well, we're trying to patch and fix and put a cast on a broken system here. You can call it what you want, but we'll continue to purchase power in a private market.
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We'll have a public power authority, which will also have the ability to build power or finance power. And more importantly, we'll have more power than our economy provides. All of that will give us leverage we don't have today.
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Meanwhile, people have to join us and fight back against the federal government that has dropped the ball, that is in bed with these energy companies, that wants them to make more money than they've made before.
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We believe you will not have to pay more than the current rate structure proposes - which is, for 50 percent of the public, nothing; for another 25 percent, only a 10 percent increase; and for the remaining 25 percent, a 34 percent increase.
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There's no question that California, in the last three or four years, has been privileged to add disproportionately to the economic growth of America, and to contribute to its technological productivity.
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Now, in the space of a year, we've spent 450 percent more for power than we did the year before, and bought essentially the same amount of power. This year, that number's likely to go up. That can't go on forever and have us continue to be the economic engine for America.
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