California blackouts: 1 vs. dozens
In the 6 months before Enron manipulated California's grid, the state had 1 blackout; in the 6 months after, it had several dozen — all artificially created.
Where this was said
Enron's Lobbying Machine and the Power Play in 37 States
At 17:37 · chapter starts 16:45
The hosts shift to Enron's aggressive lobbying strategy following the repeal of the Public Utilities Holding Company Act in 1990, which suddenly allowed anyone to buy and operate electric utilities. Enron moved immediately. Chuck details how the company deployed lobbyists in at least 37 states and successfully overturned a 1988 law requiring the military to buy electricity from local utilities — netting Enron a $25 million contract to supply electricity to Fort Hamilton in Brooklyn. Though $25 million is peanuts relative to what came later, Josh and Chuck frame it as the blueprint: lobby for deregulation, then be first in line to profit from it.
California's Fake Energy Crisis: Manufactured Scarcity for Profit
Enron traders figured out they could move electricity out of California, create artificial scarcity, then sell it back at massively inflated prices. They called power plants directly and ordered them offline. In one case caught on tape, they cheered a wildfire for knocking out a pipeline. The scheme cost California $40–$45 billion.
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