Some news reports have emerged saying Pacific Gas & Electric Co. (NYSE:PCG) had raised $5 million dollars through increasing rates on its customers for the purpose of fixing the pipeline that ended up exploding in San Bruno, but never spent the money for it after it was raised.
To make matters seemingly worse, PG&E had also submitted a request to the California Utility Commission for $5 million for the same project. From there the work would have been completed by 2013.
The company responded to the assertions on its website saying, "PG&E performed an External Corrosion Direct Assessment in 2009 and based on the updated assessment, and the assurance it provided us, we rescheduled the project accordingly."
PG&E had been given clearance by California regulators to upgrade the pipe in 2007.
California governor Arnold Schwarzenegger has asked for the San Bruno area to be declared a federal disaster.
Schwarzenegger said in a letter to Obama, "This event has destroyed and caused serious damages to homes, infrastructure, and other public facilities in San Mateo County. The response and recovery costs for this event are estimated at nearly $10.4 million."
Showing posts with label Arnold Schwarzenegger. Show all posts
Showing posts with label Arnold Schwarzenegger. Show all posts
Friday, September 17, 2010
Monday, May 3, 2010
Schwarzenegger Flips on Offshore Drilling
California Governor Arnold Schwarzenegger has ended his support for offshore oil drilling off the coast of California, citing the huge oil spill in the Gulf of Mexico from the Deepwater Horizon oil rig.
The usual stupidity and cowardice of politicians like Schwarzenegger emerges again, as he takes one of the few instances in history of an accident of this magnitude and wraps it around the idea that you can have perfection in any endeavor in life.
Schwarzenegger has rightly based his support on numerous studies which show it is safe to drill, and that has been the reality in the industry for some time.
That of course doesn't preclude an accident happening, but does that mean we don't walk down a road because we could get hit by a car, or we don't drive in a car because people get killed in accidents. The reasoning and logic is faulty, but then Schwarzenegger got his idea from watching the images on TV.
He stated:
"I see on TV, the birds drenched in oil, the fishermen out of work, the massive oil spill, oil slick destroying our precious ecosystem."
In even more tortuous reasoning, Schwarzenegger added, "If I have a choice to make up $100 million and what I see in Gulf of Mexico, I'd rather find a way to make up that $100 million."
Like that's the only two choices Arnold. What about continuing to work hard to improve the industry and safety even better? How about the much-improved practices of the oil industry in recent years.
No Arnold, the two choices are the usual images of oily birds which the media love to through out there to generate emotion; it was the same thing from the media with the Exxon Valdez if you remember.
The mature and proper response, which will ultimately have to be made is to continue improving the industry knowing nothing can ever be perfect. That's only a liberal wet dream and fantasy used to hold back the benefit oil and other raw materials hold for human beings.
There's nothing real or bold about Schwarzenegger's response, just the usual running for cover for someone trying to cover their rear-end. He should have come out saying something similar to what I've said here, reassuring people he'll do everything he can to improve the oil industry, not destroy it.
The usual stupidity and cowardice of politicians like Schwarzenegger emerges again, as he takes one of the few instances in history of an accident of this magnitude and wraps it around the idea that you can have perfection in any endeavor in life.
Schwarzenegger has rightly based his support on numerous studies which show it is safe to drill, and that has been the reality in the industry for some time.
That of course doesn't preclude an accident happening, but does that mean we don't walk down a road because we could get hit by a car, or we don't drive in a car because people get killed in accidents. The reasoning and logic is faulty, but then Schwarzenegger got his idea from watching the images on TV.
He stated:
"I see on TV, the birds drenched in oil, the fishermen out of work, the massive oil spill, oil slick destroying our precious ecosystem."
In even more tortuous reasoning, Schwarzenegger added, "If I have a choice to make up $100 million and what I see in Gulf of Mexico, I'd rather find a way to make up that $100 million."
Like that's the only two choices Arnold. What about continuing to work hard to improve the industry and safety even better? How about the much-improved practices of the oil industry in recent years.
No Arnold, the two choices are the usual images of oily birds which the media love to through out there to generate emotion; it was the same thing from the media with the Exxon Valdez if you remember.
The mature and proper response, which will ultimately have to be made is to continue improving the industry knowing nothing can ever be perfect. That's only a liberal wet dream and fantasy used to hold back the benefit oil and other raw materials hold for human beings.
There's nothing real or bold about Schwarzenegger's response, just the usual running for cover for someone trying to cover their rear-end. He should have come out saying something similar to what I've said here, reassuring people he'll do everything he can to improve the oil industry, not destroy it.
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