October 27, 2019

Pacific Gas and Electric Company: A Twice in Bankruptcy, Six-Time Convicted Felon That Has Yet Again Turned Much of California Into a Dystopian Third World State.


Pacific Gas and Electric Co.

Public Safety Power Shutoffs

Yep, PG&E has once again put millions of people at its mercy by shutting off electricity yet once again in another of it's so call "Public Safety Power Shutoff", or PSPS.   You can read my prior post on this topic (from October 22, 2019) here.

But these power shutoffs aren't for public safety, in spite of the attempt at providing the event with a catchy name.  The electricity shutoffs are nothing more than an effort by PG&E to protect itself and its shareholders from liability and losses in the event PG&E utility equipment starts a fire.

Oh, and these mass power shutoffs were supposed to be a 'measure of last resort'?  Bull crap to that.  The current shutoff is the 3rd time in only 2.5 weeks that PG&E has shut off power to millions of people.  I'd call that a more of an immediate go-to tactic than a tactic of last resort, wouldn't you?

Yesterday, Saturday October 26, 2019, PG&E purposely shut off electricity to over 1,000,000 customers throughout Northern and Central California, affecting over 3 million people.  (Thankfully is not included in this electricity shutoff.)   And that 3 million people estimate is focused on the people in residences without power, assuming 3 people per residence.  How many more many millions of people have been impacted by businesses and other entities without power?  Billions of dollars lost once again in the greater economy, billions of dollars spent by local municipalities and government entities, not to mention untold dollars lost to residents and small business owners.

PG&E said the "might" be able to start restoring power on Monday, after the winds die down.  And by the way, these winds are seasonally high winds we have each and every year in parts of California.  Nothing new about this phenomenon. 

What are PG&E utility customers supposed to do?  Go back to Little House on the Prairie days with oil lanterns, outhouses, and horse and carriage transportation?

Oh, and as far as the Kincaid wildfire raging up north in Sonoma County, which has so far required some 200,000 people to evacuate?  Looks like it may have been caused by PG&E equipment, from a 'small metal clip' that malfunctioned on a live electrical transmission line.  A transmission line that was not de-powered by PG&E, even though all of the surrounding PG&E customers were without power.

Yep, a small metal clip.  That's a better story than the Great Chicago Fire of 1871 being started by Catherine O'Leary's cow that kicked over a lantern while being milked.

Pacific Gas and Electric Company
Pyromaniac  .  Greedy and Price Gouging  .  Extortionist

I have great respect - and empathy - for PG&E's rank and file workers.  Would not want any of their jobs.  But upper management, executives, and directors need to be given the boot.  And some of them criminally charged and jailed.   How can California regulators, politicians, and the Federal Bankruptcy Court allow PG&E to hold 2/3 of California in a stranglehold, and at its mercy?

California, the 5th largest economy in the world.  One of the largest and most advanced tech centers in the world.  Turned into a dystopian and apocalyptic Third World State by for-profit, inept, and incompetent Pacific Gas and Electric Company.  A utility company that is a 6-time convicted felon and is currently in Chapter 11 bankruptcy for the 2nd time.

Living the Dream, Baby.  Living the Dream.

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About Mary Rae Fouts, EA

Mary Rae Fouts, EA provides Tax Services, Insurance Consulting Services, Annuity Consulting Services, and Expert Witness Services to clients who typically have technical or complex concerns.  For more information visit FoutsFinancialGroup.com.

Mary Rae Fouts

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