-Caveat Lector-

http://biz.yahoo.com/prnews/010121/ny_nwswk_s.html

Sunday January 21, 11:02 am Eastern Time
Press Release
SOURCE:
Newsweek
California Gov. to Appoint 'Power-Plant Czar' This Week to 'Honcho'
Completion of Five Power Plants Under Construction
Davis Confers Daily With Former Treasury Secretary Rubin so
'Wall Street Understands What We're Doing;' Says California Will
Not Drag Rest of Country Into Recession
NEW YORK, Jan. 21 /PRNewswire/ -- California Gov. Gray Davis
tells
Newsweek that he plans to appoint a ``power-plant czar'' this
week who will
``honcho'' the completion of five power plants
currently under construction and
will expedite the permit process
for several more in the energy-needy state.
Davis tells San
Francisco Bureau Chief Karen Breslau in the January 29 issue
of
Newsweek (on newsstands Monday, January 22) that altogether he
plans to
have 15 new plants under construction before his term
ends in 2002.
The
plants would be the first in the state since the
1980s.
(Photo:
http://www.newscom.com/cgi-
bin/prnh/20010120/HSSA005)
Davis, who was criticized for not acting faster, is now trying to
increase
energy supplies and drive down prices.
And he tells
Newsweek that he talks
``three times a day'' to former Treasury
secretary Robert Rubin, now a
co-chairman of Citigroup, ``to make
sure Wall Street understands what we're
doing.''
But the cost of the power crisis and subsequent disruptions are
already
costing billions of dollars and many experts now fear that
the problems of the
nation's largest state economy may spill over
to the rest of the country,
writes Senior Writer Adam Bryant, in a
separate story on California's energy
crisis. But Gov. Davis
dismisses any suggestion that his state's energy problems will
weigh heavily on the country's economy.
``California will not
drag
anyone into recession.
It will outperform the rest of the nation.''
                       (Read Newsweek news releases at
              http://www.Newsweek.MSNBC.com. Click "Pressroom.")
SOURCE:
Newsweek


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