MORE TROUBLE IN CALIFORNIA, BUT THIS TIME NOT FOR PG&E
As most regular readers of this site know, I've been both fascinated and alarmed at the burning of California, as thousands of victims have lost their homes, and darkly fascinated by the response (such as it is) by the state government, and even more so by the "response" of the power utilities in their new policy of rolling blackouts to protect themselves from further lawsuits. As with the previous fires there have been anomalies already spotted by the ever-vigilant alternative research field.
But today I don't want to focus on those anomalies, nor on the crazy policies that in my opinion have led to all of this, but rather on a new story that casts yet another long shadow over the state:
Is California's Second Biggest Utility On Verge Of Collapse Next: Edison Plunges After Saying It May Be Responsible For Deadly 2018 Fire
The crux of the matter is the California's other main power utility, Southern California Edison is now also in the crosshairs:
With California's largest utility, PG&E, now bankrupt after starting the deadliest fire in California history, and cutting power to its customers at the mere hint of a windstorm that could leave it exposed to more multi-billion lawsuits, leaving millions in the dark, California's second largest utility, Edison, may soon be insolvent too.
The stock of Edison International, which is California's second biggest electricity provider through its Southern California Edison subsidiary, which distributes electricity to 5.1 million customers in central, coastal, and southern California, collapsed after the close when the company reported in its earnings call that California investigators concluded equipment owned by Edison International’s utility caused one of the most destructive fires in state history, which killed three people and burned down entire sections of Malibu.
California county fire officials said that the Woolsey Fire, which raged for weeks in Los Angeles and Ventura counties in November 2018, was sparked by the utility’s electrical equipment, Edison CEO Pedro Pizarro said in a call with investors on Tuesday.
EIX shares plunged as much as 19% to $52.75 in after-hours trading before modestly recovering some losses to trade at $62.95. Edison investors had expected the company would be blamed for the fire.
In a previous blog, I speculated on the possibility that the practice of what appears to be disaster capitalism in full swing in California may not be limited just to driving people from their homes through engineered disasters in order to pick up property on the cheap. Additionally, I mused, the target may be the power utility - in this case, PG&E - itself, which has already experienced one bankruptcy because of it. Now, it seems, one might add Southern California Edison to the list.
And that brings me to today's high octane speculation. What if... what if the goal is to create such conditions of chaos in the state, that the whole scenario we see playing out is to drive a situation where - as was alleged in the fires of the immediately previous years - the US military was seen to be present? Admittedly, this scenario is a wild one, right off the end of the speculation twig, as it were. But recently, in an unprecedented move for any leader in his party, Governor Gavin Newsom actually tweeted a think you to Mr. Trump for sending federal disaster funds in the state. And he did so without the usual "digs" that usually accompany such remarks from leaders in his party. Equally strangely, Mr. Newsom was not met with the usual chorus of whining and complaining from the other leaders of his party. His remarks passed almost completely unnoticed.
Perhaps he knows that when any federal monies flow to a state, they usually come with major strings attached, and I'm betting some of those strings might be an overall not only of state environmental policy, but of its two major power utilities.
If I'm right, then we might watch for the presence of federal representatives on the boards of those companies, after the usual purchase of significant enough amounts of equity to warrant it.
And that's a very clever way to bypass Sacramento's lunacy.
I know, I know... it's a really wild high octane speculation, but after all, it's what we do here.
See you on the flip side...
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Yep, allow Edison to go under (no bailouts) and then reorganize it into a public utility. The state of CA even has a chance to combine the two (PG&E and Edison) into one public utility. Economies of scale and all that…
On the far-out, end-of-twig speculation side, I could see the bankruptcies being weaponized . Stretch-out any reorganization until chaos literally reigns. Even plant a few ‘operatives’ to turn things violent at critical moments. Then, swoop-in with “outside authorities” to save the day. Martial Law without the martial law…
Good morning everyone. “I know, I know… it’s a really wild high octane speculation….” And going out even further, here’s Kerry Cassidy from Project Camelot with a very literal, numbered list of present day happenings seen from the viewpoint of our “real” history of being ET offspring: https://www.youtube.com/watch?time_continue=2471&v=34tfnz15WUE (41 min). She covers many of the issues discussed here positing that if one is not taking this “real” lineage into account as the machination behind the curtain, one is deemed naive and nonthreatening. She covers why the military are in CA with respect to the fires, well and yes, we did go to the moon but not when it was presented and Stanley Kubrick’s role in all of it (& yes Dr. Farrell’s, your suspicions about the rockets at that time would seem to be correct), blows Antartica wide open and sheds highly disturbing information on Israel (answering perhaps why they aren’t rolling out 5G), referencing credible people along the way. In short, the “Cosmic War” has never stopped and our views need to widen like they never before if we are to have informed understanding and perhaps eventually, some type of power saving the “human” race.
When Jesuit sleeper cells create a superstructure in 1776, then the next logical step is to create a shadow government, to avoid exposure.
When supposedly assassinated presidents join their own funerals in disguise, then there is free rein from the grave, away from public eye.
A mere moonshiner has not the infrastructure to hatch a plot of magnitude, unless the Jesuit ritual of “killing of the king” was in place all along.
Hmm.. Amazing.. A Rothschild company can see its share price plummet for exactly the same reason.. Shares of electricity provider PG&E have worst day since 2002 as wildfires ravage California – 9 Nov 2018
And they were OK in the end. (7 days later)
California’s top utility regulator says PG&E bankruptcy not a worry, but fires are a ‘s— pie’ – November 16, 2018
“Speaking to The Sacramento Bee on Friday, Michael Picker, president of the California Public Utilities Commission, said the bigger worry is what to do to stop the onslaught of devastating wildfires the state has seen in recent years.
PG&E’s woes are, he said, “a small slice of a bigger shit pie. That’s a technical term.
What is California doing about wildfires?” Picker said. He called climate change a major unanswered issue, and said, “we have to have other solutions.”
Despite news reports about power lines causing fires, Picker said only one out of ten wildfires is caused by utility infrastructure issues.
“The PUC president acknowledged that PG&E’s growing financial costs and liabilities are a concern and that the state needs to take further steps to ensure the utility, which supplies power in Northern California, has continued borrowing ability at decent rates.”
ah… HA! Its all just a scam to ensure that money keeps getting borrowed finally..
Articles have appeared recently pointing out that the interconnected grid layout in power supply systems is obsolete, with the risk of accidental or intentional outages. If we set aside for the moment the possible advent of “free energy” devices of various types, people in the US could study and apply the European examples of near self sufficiency on the small town or district level, using mixed generation plants adapted to the local level needs and resources, and applying the excellent technologies already on the market.
This does not favour the current corporate oligopolies in the short term, but if, as C.A. Fitts never tires saying, hundreds of towns and counties with a significant population (and electorate) push for it, invest in it and install it, it will go forward of its own accord.
Such a model goes hand in hand with the non-centralised, distributed model of additive manufacturing (3D printing – discussed on many occasions by Joseph) that is, albeit slowly, being rolled out by the same (or different?) faction of the corporate oligarchs.