CALIFORNIA'S POWER FAILURE

摘要

It wasn't much of a Christmas holiday for California Governor Gray Davis. On Dec. 26, the governor flew to Washington, where he spent two hours with Federal Reserve Chief Alan Greenspan discussing California's unraveling electricity market. A day later, he was confabbing at the White House with President Clinton. If turning out the state's official Christmas tree lights didn't get the nation's attention, then face-to-face meetings with Greenspan and Clinton provided the ultimate wake-up call. California's electricity crisis, with its rolling blackouts, sky-high prices, and the threatened bankruptcy of the state's two largest utilities, now poses a threat that goes well beyond the Golden State.