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Energy firms' profts per customer rise 733%, says Ofgem
#2
When I was taught economics, it was an article of faith that gas and electricity are natural monopolies, because everyone with somewhere to live needs them. Being natural monopolies, it was further assumed that the gas and electricity industries should be run by the state, to prevent profiteering and to enable essential and highly expensive investment in the national grid infrastructure.

For the Chicago School, and their acolytes in the IMF and World Bank, it is a sine qua non that national grids must be privatized and "opened up to competition".

Jeb Bush allegedly told the government of Argentina to sell their national grid to Enron....

The privatisation of gas and electricity in Britain has led to an increase in profit margins of nearly 800% for those private gas and electricity companies.

Of course the truth is that Chicago School economics, as inflicted on the world by the IMF and World Bank, was never about improving the lot of ordinary people. It was always about exploiting the many and enriching a very few.
"It means this War was never political at all, the politics was all theatre, all just to keep the people distracted...."
"Proverbs for Paranoids 4: You hide, They seek."
"They are in Love. Fuck the War."

Gravity's Rainbow, Thomas Pynchon

"Ccollanan Pachacamac ricuy auccacunac yahuarniy hichascancuta."
The last words of the last Inka, Tupac Amaru, led to the gallows by men of god & dogs of war
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Energy firms' profts per customer rise 733%, says Ofgem - by Jan Klimkowski - 14-10-2011, 08:37 PM

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