Tag Archives: PG&E

The Lights Go Out in Cali… and Maybe Not Just There, by Eric Peters

Has the new green future already arrived in California? From Eric Peters at ericpetersautos.com:

Americans got a glimpse of the Green Future last week – and it was pretty dark

Deliberate power outages have left millions of people in California with no lights – and no way to recharge their Teslas, either.

And it’s not because there isn’t enough power.

Rather, the state’s utility, Pacific Gas & Electric cut the power – ostensibly to prevent wildfires that might be started by downed (and hot) power lines.

But the real reason for the artificial blackout is PG&E’s massive – and government-mandated –  malinvestment in “green” technologies such as wind farms and solar, which has diverted billions away from critically needed infrastructure investment, such as burying power lines so that Santa Ana winds don’t result in downed lines  . .  . and fires. 

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Will PG&E Have to File for Bankruptcy Protection? by Leonard Hyman and William Tilles

PG&E’s shares are plunging because it could potentially have huge liabilities from California’s Camp Fire. Bankruptcy is a real danger. From Leonard Hyman and William Tilles at wolfstreet.com:

For investors there is little clarity through the smoke and haze.

The common shares of Pacific Gas & Electric [PCG] plunged nearly 22% to $25.59 on Wednesday and are now down 47% since November 8, when the “Camp Fire” began near the city of Paradise, Butte County, in Northern California.

This repeats and continues a scenario that commenced in the fall of 2017, with the wildfires that ravaged parts of the countries of Sonoma and Napa, north of San Francisco. At the time, the shares plunged from around $70 on October 11 to about $38 by February 8. Then they recovered some until the next fire hit (data via YCharts):

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