California - Electrical Power ShortagesBack in the 1980s a friend of mine who worked for the Federal Government travelled to California and shared with me his trip report that he filed after the trip. In this report he said "California is like Granola. When you get rid of the nuts and the fruits all you have left are the flakes".
Well...news flash....nothing has changed since then or perhaps it has even gotten worse.
California has passed a law limiting the production of ICE cars leading to an outright ban on all new cars sales of ICEs in 2035. Today, facing possible blackouts in the electrical grid, the Government has dictated that people stop using major appliances and the charging of EVs between now and over the long weekend to avoid failure of the electrical grid.
WOW!!!
Welcome to the future, it is already happening in California.
Meanwhile, "back at the ranch", the California Governor continues to use his private jets to fly around and thinks that that is OK. "Do as I say, not as I do"
What does this mean for investors?
1.....the narrative about oil is a fiction
2....there are huge opportunities to invest in companies that have solutions to this hypocrisy
What does this mean for SU?
Unless the company morphs into dealing with Point 2, the SP will not reflect the true value of the company.