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Written by Michael Shames
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Michael Shames' Background If I told you that this was a true story, you wouldn’t believe me. So let me share a somewhat fictional story with you. Imagine that it is 1981 and a 24-year old law student attending the University of San Diego has a hare-brained scheme: Create a consumer group dedicated to fighting a local energy utility that Forbes magazine had described as “the corporate equivalent of the gang that couldn’t shoot straight.”
In the preceding six years, this local energy utility had subjected its customers to 300% electric-rate hikes and had recently purchased thousands of gallons of fuel oil from a Texas swindler who ran off with the money. The utility had not secured the assets, so it was left with no money and no oil. Of course, the utility wanted to pass the costs of this deal-gone-bad onto its customers. (Incredibly, I’m not making this part up)
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