Are Californians Prepared to Suffer Through 10 Years of Power Outages?

By Ron Kacmarcik @ Shutterstock.com

Those Californians who haven’t already fled the state’s high taxes, are looking at man-made power outages for as much as 10 years, reports Katherine Blunt in the Wall Street Journal. She writes:

PG&E Corp. PCG -0.37% ’s chief executive said Friday that it could take as long as 10 years for the company to improve its electric system enough to significantly diminish the need to pull the plug on customers to reduce the risk of sparking fires.

Bill Johnson, who joined the company in May, made the disclosure at a California Public Utilities Commission hearing where the panel’s president, Marybel Batjer, sharply criticized the company’s “inadequate execution” of a shut-off in which it turned off power to large portions of Northern California for more than two days last week.

In Northern California where the risk of wildfires is greatest, residents were recently left with no power for days. They were forced to watch as their refrigerators defrosted, and suffered as medical equipment failed.

If California were a country, it would have the world’s fifth-largest economy. Yet, even with all that wealth, it can’t protect its citizens from third-world style blackouts.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zildjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com To sign up for my free monthly Survive & Thrive letter, click here.