They make their money the same way you make money when you sell your house.
More Quotes from Severin Borenstein:
I think that's a big issue that a bankruptcy court is going to have to confront. What's the ongoing responsibility of the company and what's the legal liability in the contracts.Severin Borenstein
Unfortunately, sometimes you see big wealth transfers occur when something becomes scarce.
Severin Borenstein
They continued to build and complete plants after it was clear the market was down.
Severin Borenstein
In general, you have to have a pretty serious market power concern before you go down this road of price controls, because the chances of causing shortages and causing gas lines are quite significant. Hawaii seems to have designed this so it's much less likely to happen, and Hawaii has a credible argument to be made that they face a significant market power problem.
Severin Borenstein
That's definitely bad news for the California gasoline market. We're going to have to wait and see how bad.
Severin Borenstein
It's a world market for oil and that's why we have high gasoline prices.
Severin Borenstein
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