The Axe Files with David Axelrod cover image

Presenting Total Recall: California's Political Circus

The Axe Files with David Axelrod

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Enron, the Company Responsible for the California Energy Crisis

California's approach to d regulation turned the market upside down. Power companies now had to purchase energy on an open market and then resell that energy to its customers. The problem was, with the market on the fritz, energy wholesalers started to manipulate the price of that energy. They would do things like shut down power plants for maintenance when none was really required. That limited the production of energy, and prices shot up.

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