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The Lonesome Death of an Energy Bureaucracy
From the Los Angeles Times, via KTLA-TV's unregistered Web site, the death of a California bureaucracy:
[T]he power authority was set up [in the summer of 2001] to build electricity generating plants to protect consumers from price-gouging. But it disbanded without constructing a single unit, buying any transmission lines or exercising its ability to borrow up to $5 billion.
The Consumer Power and Conservation Financing Authority leaves behind $8 million in debt to utility customers and a couple of clean-energy programs handed off to California's remaining electricity bureaucracy.
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Tom Berman|12.13.04 @ 3:42PM|#
Oh, man. The Dylan puns just never stop with you whacky libertarians.
|12.13.04 @ 4:20PM|#
This never would have happened in DC, but the Terminator terminated it!
|12.13.04 @ 5:56PM|#
If only all bureaucracies did so little damage and could be shut down so easily.