How California Wildfires Forced PG&E to Declare Bankruptcy | WSJ

  Рет қаралды 116,385

The Wall Street Journal

The Wall Street Journal

Күн бұрын

PG&E power lines were blamed for 2018’s Camp Fire, the deadliest wildfire in California’s history. But it was just one of 1,900 fires sparked by the utility since 2014, state investigators say. Here’s the story of PG&E’s missteps and why it ultimately filed for bankruptcy.
More from the Wall Street Journal:
Visit WSJ.com: www.wsj.com
Visit the WSJ Video Center: wsj.com/video
On Facebook: / videos
On Twitter: / wsj
On Snapchat: on.wsj.com/2ratjSM
#WSJ #PGE #Wildfires #Explainer

Пікірлер: 260
@FinancialShinanigan
@FinancialShinanigan 4 жыл бұрын
Their motto: No change until someone dies
@adamgarcia8684
@adamgarcia8684 4 жыл бұрын
Financial Shinanigan Repeatedly. Again and again and again and again
@mukamuka0
@mukamuka0 4 жыл бұрын
Sadly, it isn't just PE&G. Many, many of business do and get away with this. They can killed people and not go to jail, look at Boeing for example.
@trainzguy2472
@trainzguy2472 4 жыл бұрын
Just like the San Bruno explosion...
@bigbrother787
@bigbrother787 4 жыл бұрын
People who die from preventable causes due to lack of medical care
@vagabondwastrel2361
@vagabondwastrel2361 4 жыл бұрын
You forget it was the eco fascist groups that stand in the way of fire safety by blocking basic land maintenance. Both are to blame but the eco groups are even worse.
@opportunityinvestinganalys6986
@opportunityinvestinganalys6986 4 жыл бұрын
Such negligence, does justify jail time for senior management in my opinion.
@cmdr1911
@cmdr1911 4 жыл бұрын
The State and Federal personnel need to be held accountable as well. They set the standards, permit the monopoly and fail to regulate. Having worked in the industry it is disgusting.
@sundayconsultingllc6917
@sundayconsultingllc6917 3 жыл бұрын
Thats awful to here, with PG&E practically holding a energy monopoly in central and northern California, they are able to get away with this behavior pretty easily by simply increasing their rates to offset the cost of the damage and laws suits, meaning California Homeowners bear most of the financial burden. We offer a solution to this monopoly by offering qualified California Homeowners a free solar system, including free installation and maintenance. In return you'll be purchasing a power from the solar system for dramatically cheaper rates. Stop paying for monopolized rates and stary paying for clean cheaper energy. Go to MySolarSunday.com for a free proposal and quote.
@samridigsbymd5494
@samridigsbymd5494 3 жыл бұрын
Einstein lived in Bern Fukushima is Foo ku G E Chief Immelt
@Sarah-ny8lw
@Sarah-ny8lw 4 жыл бұрын
As a utility worker I can tell you...about 60% of homeowners don’t want me to go in their backyards to inspect utility poles.
@Cerez78
@Cerez78 3 жыл бұрын
You can come to our neighborhood!
@Sarah-ny8lw
@Sarah-ny8lw 3 жыл бұрын
Golden Eagle Thank you!!
@Pyridius
@Pyridius 4 жыл бұрын
The best part, as a California resident, was hearing PG&E state it would take 10+ years to fix everything :)
@xXstewieXx100
@xXstewieXx100 4 жыл бұрын
Add all those taxes to power and its already expensive then ask why your lines are 100 yrs old. They wouldn't even be in business if they would be charging what they should. If consumers were willing to pay more death could be avoided, but simply put people don't care. They just demand incredibly cheap power.
@ae1ae2
@ae1ae2 4 жыл бұрын
It will be cheaper in 5 years to disconnect from PG&E's electric and be off-grid with solar + battery. PG&E is in a death spiral due to technological advancement, but they don't know it yet.
@bobhager5248
@bobhager5248 4 жыл бұрын
Environmentalism causes the high prices and slow recovery. Reap what you sow and stop blaming others. If PG&E didn't start it than something else would.
@stupidminotaur9735
@stupidminotaur9735 4 жыл бұрын
regulations.... in florida it would take 2-8 hours to do they work pg&e needs to be done for the lines in cal pg&e needs 10 years of court battles and 1 billion dollars to do a 1 mile line afterwords a quick simple 2-8 hours work job.....
@Sovereign_Citizen_LEO
@Sovereign_Citizen_LEO 4 жыл бұрын
There's no "fixing everything". It's impossible. You cannot live in the middle of a forest, and expect that you're going to be safe from potential wildfires (no matter how they're started). It would take decades (like 40 or 50 years). They will upgrade the equipment and were doing so, but nowhere near fast enough. It's literally impossible. With the cost of things nowadays, and the fact that PG&E is a public utility (but also a private publically traded company/stock), with dividends, and the constant debt (operating losses), lawsuits, fires, etc. there is no way any utility could survive (and pay the entire cost to upgrade it's entire infrastructure). That would cost literally $hundreds of Billions of dollars, and by the time it was completed, the infrastructure would be old again (and would need to be replaced). There is plenty of blame to go around (the State, politicians, regulators, Butte County, the citizens, the utility, etc.). PG&E is a monopoly (like all other power companies), and has the largest service territory in the nation (and the most customers), and the most infrastructure (and the most forested land to deal with). It is the nation's largest utility. But it is a problem for any utility potentially.
@cmdr1911
@cmdr1911 4 жыл бұрын
The government has failed the American people. They have permitted and encouraged utility Monopolies while failing enforce standards. I consulted for a large utility in the mid west and was disgusted by the state of affairs. There NESC violations everywhere, like 1/3 of the poles. There are poles that are rotten, damaged from cars, overloaded by communication lines and spacing issues that could electrify phone and cable lines. I was working on plans that were 10 years old that just weren't completed. The communication companies simply don't do the work and power companies don't push the issue. Utilities across the country need to be held accountable or replaced. If I was a share holder of the company I consulted for I would be sick, 500 million from 1 department missing from management.
@addanametocontinue
@addanametocontinue 4 жыл бұрын
Yep. We can blame PG&E all we want, but they are simply doing what any other for-profit company does: push the boundaries until the government steps in, if ever.
@cmdr1911
@cmdr1911 4 жыл бұрын
@@addanametocontinue Everyone pushes the boundaries. I consult for oil and gas now, I enjoy energy from construction, production and distribution. My clients are so strict we report every spill, release and compliance issue when we might be at 1 or 2 percent of the allowable limit but 0 is our baseline. There are million dollar fines for minor things while public utilities have 0 repercausions. My client in the utility was responsible for 3 deaths and were just told to fix the issues on other locations. 3 citizens not even employees killed and a slap on the wrist.
@ShawneeUnion
@ShawneeUnion 4 жыл бұрын
PG&E couldn’t find 0.3% of its overall value to fix those towers?
@nzmanhdee6246
@nzmanhdee6246 4 жыл бұрын
It’s not worth anything.
@stupidminotaur9735
@stupidminotaur9735 4 жыл бұрын
regulations.... in florida it would take 2-8 hours (per mile of line) to do the work pg&e needs to be done for the lines in cal pg&e needs 10 years of court battles and 1 billion dollars to do a 1 mile line afterwords a quick simple 2-8 hours work job.....
@rafaelmercado7363
@rafaelmercado7363 4 жыл бұрын
My friend lost her house because PG&E didn’t do its job.
@fitrianhidayat
@fitrianhidayat 4 жыл бұрын
Some people died for the same reason
@Viggggggr
@Viggggggr 4 жыл бұрын
Rafael Mercado ??? Fire dept didn’t do there job 1 job they have and failed I’m a ex firefighter we let this grow big and strong to get more $$$ and stuff. The fire was just 1 Hull side you really think CA can’t afford 4 passes with a super scooper to stop that hill fire ? Hahahah we the ca fire dept fueled this fire.
@sundayconsultingllc6917
@sundayconsultingllc6917 3 жыл бұрын
Thats awful to here, with PG&E practically holding a energy monopoly in central and northern California, they are able to get away with this behavior pretty easily by simply increasing their rates to offset the cost of the damage and laws suits, meaning California Homeowners bear most of the financial burden. We offer a solution to this monopoly by offering qualified California Homeowners a free solar system, including free installation and maintenance. In return you'll be purchasing a power from the solar system for dramatically cheaper rates. Stop paying for monopolized rates and stary paying for clean cheaper energy. Go to MySolarSunday.com for a free proposal and quote.
@Sovereign_Citizen_LEO
@Sovereign_Citizen_LEO 3 жыл бұрын
My friend lost her PG&E because her house didn't do it's job.
@Sovereign_Citizen_LEO
@Sovereign_Citizen_LEO 3 жыл бұрын
@@sundayconsultingllc6917 - Are you an advocate of Socialism or Marxism? Do you believe in big Government and interventionism? Do you believe that Solar Energy (or electric cars or all the rest of it), is any "cleaner" or "greener" to the environment than fossil fuels (or Nuclear, Geothermal, Hydroelectric, etc.? Do you believe that man made CO2 is jeopardizing Earth's future and could cause the end of the world? If so, I've got a bridge to sell you, and I'll make a commission on it. The bridge will be financed by our tax dollars (government Socialism) because liberal psychopaths and radical leftists have an agenda of Communism and people like yourself are either too stupid to see it, and/or have a personal special interest agenda because you will profit from it. Am I correct so far? I think so.
@RossCampoli
@RossCampoli 4 жыл бұрын
I was fortunate enough to visit the Malibu area and Paramount Ranch a year before they were destroyed by fire. Really gutwrenching destruction to see.
@RossCampoli
@RossCampoli 4 жыл бұрын
JTG G totally fair - I was sharing an experience that the video made me reflect on. It’s unfortunate that a vast percentage of the state is at a high risk of fire
@EmazingGuitar
@EmazingGuitar 4 жыл бұрын
Not destroyed, temporarily scarred
@reds022
@reds022 4 жыл бұрын
@@RossCampoli tragedy for those who suffered but the beauty of nature is that the carbon from the burnings will work as a natural fertilizer to the soil making it greener than before.
@Sexynes
@Sexynes 4 жыл бұрын
Corporate greed and the neglect of general safety
@cal920c
@cal920c 4 жыл бұрын
Unfortunately the fact remains that death is the cost of progress. Fixing things that aren't broken get's people flak, but waiting until it breaks is way too late. The general public can't seem to get this as a consensus.
@deere3321
@deere3321 4 жыл бұрын
It's California. Regulation makes upgrades like this cost prohibitive. Don't blame anyone but the lawmakers.
@mukamuka0
@mukamuka0 4 жыл бұрын
That's why Micro grid is a way to go for residential.
@bigbrother787
@bigbrother787 4 жыл бұрын
@Dalton Black It's all about money. If communities were self-sufficient what could you sell them?
@DavidJGillCA
@DavidJGillCA 4 жыл бұрын
I don't like PG & E. I don't think utilities make any sense as for-profit, private companies. A private company that is expected to put the financial interest of its shareholders first inevitably puts public safety second. But what percentage of total blame do we put on PG & E for these shocking disasters? We as power users want uninterrupted electrical and gas service anywhere and everywhere we choose. Even if we chose to live on the edge of the wilderness. PG & E aren't 100% at fault for all this; we all share some of the blame.
@Veritas-invenitur
@Veritas-invenitur 4 жыл бұрын
Electrical distribution and transmission is an exceptionally complex and expensive business. I am NOT defending PG&E. Just saying you DO NOT see this issue in any other state. California’s green energy policy’s and regulations are a massive part of this. In a capitalist society you must have a happy medium where taxes and regulation allow for decent profits without cutting corners and discourage and punish cutting corners. California does not have this balance.
@rtgoxlv3003
@rtgoxlv3003 4 жыл бұрын
Much of infrastructure in the US is becoming old, not upgrades being made, in 50 years most of this infrastructure will be obsolete
@johnvalerian8440
@johnvalerian8440 4 жыл бұрын
I’d have solar if I were in sunny California. It’s almost a no brainer.
@ryccoh
@ryccoh 4 жыл бұрын
@@jtgg1680 You can get a Powerwall to be free from the grid
@ryccoh
@ryccoh 4 жыл бұрын
@@jtgg1680 you can, a single Powerwall gets you 14kWh and costs 7k. Pretty worth it especially if you live in one of the brown out areas. 14kWh would easily cover 2 days for me but if your needs are higher you can get another one.
@ryccoh
@ryccoh 4 жыл бұрын
@@jtgg1680 That's why you couple it with solar. I'm just illustrating how long they last even without solar
@sundayconsultingllc6917
@sundayconsultingllc6917 3 жыл бұрын
Thats awful to here, with PG&E practically holding a energy monopoly in central and northern California, they are able to get away with this behavior pretty easily by simply increasing their rates to offset the cost of the damage and laws suits, meaning California Homeowners bear most of the financial burden. We offer a solution to this monopoly by offering qualified California Homeowners a free solar system, including free installation and maintenance. In return you'll be purchasing a power from the solar system for dramatically cheaper rates. Stop paying for monopolized rates and stary paying for clean cheaper energy. Go to MySolarSunday.com for a free proposal and quote.
@fragsworthtbnrfragsfan1653
@fragsworthtbnrfragsfan1653 4 жыл бұрын
i have fought fire for years and watching this video it makes me shake all over I have never seen anything like this all the panic its a miracle that more wasn't killed,
@Feynman981
@Feynman981 4 жыл бұрын
Paradise was just primitvely built in the middle of the forest with no forest aisle to prevent the fire catastrophe from happening. It‘s the fault of the government, the citizens and all builders who have not taken any measure to protect their city. California must start to create and maintain strategic forest aisles, because there is simply no way to prevent all wildfires. So, you must design California to at least make them easier to control.
@MaryJane-qq9mm
@MaryJane-qq9mm 4 жыл бұрын
Good.. They should never be left in charge of anything so dangerous ever again. Unbelievable how little I can find on this massive crime against humanity.. Heartbreaking.. How dare we ignore anything like this.. Think about it
@robertroland5333
@robertroland5333 4 жыл бұрын
Intermix is more commonly the problem. It is where homes are scattered throughout the wildland whereas interface is more of homes that border the wildland areas
@angelainamarie9656
@angelainamarie9656 2 жыл бұрын
Coloradan here, our air quality for this summer is ruined because of yet ANOTHER failure to maintain their equipment from PG&E. Can we SUE their butts off?
@IncredibleDrone
@IncredibleDrone 4 жыл бұрын
California has had power problems for decades. I remember rolling blackouts in the 90s because of power shortages. Government couldn't do any worse.
@koreantownlife
@koreantownlife 4 жыл бұрын
It’s not the government when the corporation has little to no competition.
@IncredibleDrone
@IncredibleDrone 4 жыл бұрын
@@koreantownlife yes power company have monopolies in most areas they operate in. The free market doesn't work for all aspects of an economy. More competition wouldn't fix these problems.
@kothejunglist
@kothejunglist 2 жыл бұрын
rolling blackouts were a result of greed from Enron, it had nothing to do with their ability to produce power.
@SpaseGoast
@SpaseGoast 4 жыл бұрын
It always irks me when they say "The company broke the law" Companies are not people, and therefore cannot break laws or do criminal actions. People working for a company and in positions of management in that company are the ones that broke the law. PG&E employees should be going to jail for willful negligence and failure to comply with federal mandates. That $30 million that was supposed to be used for maintenance was mismanaged and probably used to payout higher salaries and bonus for the top guys.
@Moni100111
@Moni100111 Жыл бұрын
PG & E has a history of negligence when it comes to their equipment. At the time of the fire that razed my home (October 8, 2017--the Cascade Fire in Yuba County) they were still on probation because of the 2010 San Bruno neighborhood explosion. Yet, what did that mean for me & my neighbors? The Cascade Fire was determined to be caused by power line slap. Basically, meaning that their lines were probably well beyond their "shelf life" & needed to be replaced & were sagging. Also, PG & E does not like to keep up with its vegetation management around their power poles. In fact, a well documented internal PG & E memo stated that it was "cheaper to pay lawsuits than it was to keep up with vegetation management". When I learned that fact, I was appalled. They were putting the profits for them & their stock holders over the safety of the communities they service. Why has the CPUC not done something about this? And, to add insult to injury, I learned that not long after I sifted through the remains of my property, PG & E was lobbying the state of California to allow them to roll the lawsuit costs into higher rates being passed on to their customers. So, not only had they taken everything I owned, now, I'll be paying for it, too.
@nswanberg
@nswanberg 4 жыл бұрын
It was going to happen no matter what PGE did. Drought is the norm for CA.
@Clapicus
@Clapicus Жыл бұрын
It's the neglect overall between the companies, rich people and the government. In our technology and funds, reforestation and its maintenance could be done, yet, nothing much is being accomplished or even started..
@globallytalking
@globallytalking 4 жыл бұрын
Involuntary creditors of PE&G and their families - the ones that suffered personal injuries and even died - should receive preferential treatment in the bankruptcy procedures. Contractual creditors should be satisfied only if the assets remained.
@themovietheatre
@themovietheatre 4 жыл бұрын
9:02 Hydro Quebec
@Brian-tc7ii
@Brian-tc7ii 4 жыл бұрын
Put the lines UNDERGROUND. Then risk is greatly reduced. Such poor engineering with current models.
@yuhongliu9099
@yuhongliu9099 4 жыл бұрын
PG&E is so expensive.
@nanisonfire1897
@nanisonfire1897 4 жыл бұрын
Hey I live in Sacramento which is relatively close to Paradise... THE SKY WAS DARK GRAY!! Some could say black the air had so much ash, some people would cover their faces when outdoors. PG&E would later cut people electricity during 2019 hottest summer days. Homes, stores, hospitals everything... and PG&E isn’t being held truly accountable for their negligence. PS I know generators are things still this should not be except
@UncoordinatedPixie
@UncoordinatedPixie 2 жыл бұрын
One business in Gatlinberg saved their buildings and land bc they had a commercial snow machine used on ski slopes in the area to supplement the snow on the ground. The employees saw the fire and knew it was coming and turned on the snow machine and let it run saving their business and land. PG&E should be forced to do the same thing in drought areas.
@WilliamDye-willdye
@WilliamDye-willdye 4 жыл бұрын
Sparks are inevitable. Even falling rocks from a minor earthquake can cause sparks. What allowed the small spark to become a major conflagration?
@TheJCaruso1
@TheJCaruso1 4 жыл бұрын
What best is current plan to mitigate outages for customers, deisel genset at the substations. Seems problematic
@Jorti1boomboxvideos
@Jorti1boomboxvideos 4 жыл бұрын
Most power lines aren't shielded with rubber and they are bare!
@matthew8153
@matthew8153 4 жыл бұрын
Jorti1 boombox Because they don’t need rubber. They’re so high up that the air can insulate them.
@ThEmEsSiAh187-CFGeorge
@ThEmEsSiAh187-CFGeorge 4 жыл бұрын
They need to bring Cali laws to NYC. Get rid of CONed
@breal1460
@breal1460 2 жыл бұрын
they are completely responsible for not reinvesting in their equipment. They need to be replaced NOW!
@garrygarrygarry1
@garrygarrygarry1 4 жыл бұрын
notice how they only use videos from storyful? looks like newscorp was smart with their T&C's of storyful.
@jayabraham1851
@jayabraham1851 4 жыл бұрын
Doesn’t Vox use the same background music as this video
@nitinmittal213
@nitinmittal213 4 жыл бұрын
Americans need to grow up and understand the environment they are living in. I see very little mistake on the part of the utility. If the utility replaced everything that it considered needing replacement, the costs will be huge and no one would be paying for it. The environment of California is challening for a utility to operate in and communities that are placed in such high risk areas should know the risks themselves.
@boomsuga
@boomsuga 4 жыл бұрын
Pure corporate greed 🖕🏻
@KJCurtis6595
@KJCurtis6595 4 жыл бұрын
How does california's clear cutting regulations for power lines play into this?
@bgroks1
@bgroks1 4 жыл бұрын
KJCurtis6595 Is that the bill where if a utility does a controlled power shutoff, the utility has to pay people for losses related to it?
@cammy8520
@cammy8520 4 жыл бұрын
THIS IS WHY ENERGY SHOULD BE NATIONALIZED! take profits out of necessary utilities.
@AvgJane19
@AvgJane19 4 жыл бұрын
+
@raixbox360
@raixbox360 4 жыл бұрын
5:17 need to change the place name from Paradise!
@1stGruhn
@1stGruhn 4 жыл бұрын
How anyone would think the California government would do a better job is beyond me. The reason PG&E did nothing is that they figured the government which helped make them the sole distributor of power would mitigate any risk... sure the CEO might loose his job but PG&E isn't going anywhere: cronyism always wins in big government. Bailouts will happen, people will be held responsible in a show of hot air, and millions will be made by a few... likely, by the same few as will be held responsible.
@shanewillbur1325
@shanewillbur1325 4 жыл бұрын
Somewhat agree. But Allowing PG&E to be publicly traded probably shouldn’t be happening.
@1stGruhn
@1stGruhn 4 жыл бұрын
@@shanewillbur1325 Their stock plummeted down to $3 a share but is already back to $13. Once the bankruptcy is settled it will likely jump back to its original $45 ish in a matter of a year or two... assuming the bankruptcy is settled quickly enough. Its looking like it will settle soon though: thus the reason behind the rebound price already.
@Trumppower
@Trumppower 4 жыл бұрын
With that said great time to buy PGE
@OneManOnFire
@OneManOnFire 4 жыл бұрын
Just got stock in it
@bgroks1
@bgroks1 4 жыл бұрын
TrumpCorp. The dip over the last two days has me down just over 17% on my June 19 and March 27 calls. They better have some good news coming up lol
@redcatchem2345
@redcatchem2345 2 жыл бұрын
one year later. >_> here we are again
@billyhighfill
@billyhighfill 4 жыл бұрын
So due to their negligence, people died. I really wish money didnt buy you immunity. These murderers should be held accountable!
@crashweaverda
@crashweaverda 4 жыл бұрын
I read in the comments everyone blames the company for the problems when the state deregulate the power system in Cal they set this up to happen. Electric companys don't pay for replacement of failing equipment the consumers do through there electric bills. Thats if the rate commision does there job.
@paulnhem1825
@paulnhem1825 4 жыл бұрын
This could be hindsight bias. People and businesses currently don't like their electricity being turned off for repairs now so what makes YOU think they wanted their electricity turned off prior to the fires in the first place? This is a HUGE FINANCIAL AND ECONOMIC DECISION. A few months ago, businesses in general were struggling by being inoperable due to COVID and some were even operating prematurely regardless of whether they will be endangering others and themselves; THE GOVT PROBABLY PREDICTED THIS WOULD HAPPEN TO OUR ECONOMY and that's why they held back on acting on what actions to take when COVID was transparent. I think there are some truths and similarities in both of these situations. If we look at the COVID SITUATION, CHINA did not share the news of the spread...WHY DID THEY HOLD BACK??? AND LASTLY, we waited to take action before COVID spread here in the US as well. WHY did we hold back after seeing what had happened in Wuhan? Seems like we didn't want to sell ourselves short. The greater the risk, the greater the reward right?
@jtland4842
@jtland4842 4 жыл бұрын
They should be forced to hand the company over to state governments in order to solve the bankruptcy and it the systems should be overhauled to stop these crazy fires from happening again.
@nagasako7
@nagasako7 4 жыл бұрын
Every state has electricity except for California. LOL
@shanewillbur1325
@shanewillbur1325 4 жыл бұрын
Have Sempra Energy take it over.
@AliasUndercover
@AliasUndercover 4 жыл бұрын
This after what happened in 2000/2001? This company is just awful.
@NFiltr8Red
@NFiltr8Red 4 жыл бұрын
If I don’t pay my bill, they can shut off my power. They are more than capable of shutting off power in grids but choose not to. Power is now possible to be managed per city and not regionally.
@tonym6566
@tonym6566 4 жыл бұрын
Tesla should do something similar to that Australia thing in Cali
@AviatorSammy
@AviatorSammy 4 жыл бұрын
You need to do this video: Windows 7: Surviving the Death of Microsoft's OS
@garrysingh8387
@garrysingh8387 10 ай бұрын
Hope Hawaiian electric company won’t end up like this ❤
@workingclass6750
@workingclass6750 4 жыл бұрын
Bet big on a replacement hydro company replacement,
@geekmaster123playsmc
@geekmaster123playsmc 4 жыл бұрын
Every state should do what Nebraska does.
@bersah4517
@bersah4517 4 жыл бұрын
erin brokovich is probably happy about this
@downvato
@downvato 4 жыл бұрын
At least we could blame it on a company and not California
@sconescrewdriverson
@sconescrewdriverson 4 жыл бұрын
Only we can prevent wildfires, huh?
@JasonWeakley
@JasonWeakley 4 жыл бұрын
We need Julia Roberts to make another movie.
@yepme6484
@yepme6484 4 жыл бұрын
They shouldn't be able to file bankruptcy if you can't file bankruptcy against college student loans why should they, who destroy people's lifes.
@cmdr1911
@cmdr1911 4 жыл бұрын
Because student loans are specifically not bankruptable. That is known from the start and bankruptcy for a company is to protect investors, pensions and retirement accounts love utilities, from having to pay. So if they can't go bankrupt you rob from the retired and public employees.
@nicksurfs1
@nicksurfs1 4 жыл бұрын
Laws are changing you may be able to file bankruptcy on student loans in the near future. But I agree it’s not right for pg&e to eschew responsibility here
@TheJimbop
@TheJimbop 4 жыл бұрын
When you have a decade long drought there are many different ignition sources that could start a fire like this. Kids lighting fireworks, lighting, campfires, ect. While PG&E needs to do a significantly better job of maintaining their power lines, they are not solely to blame for the fires. This is not as much a case of corprate greed as it is an act of nature.
@Buasop
@Buasop 8 ай бұрын
They are responsible for the worst and most deadly fire in California history. They knew their equipment was old and failing, yet they put off repairing it. The CEO should spend the rest of his life in prison for 85 counts of manslaughter in Paradise on November 8th, 2018
@paradox_turtles2812
@paradox_turtles2812 4 жыл бұрын
BrightSunFilms?
@MrSneaksful
@MrSneaksful 2 жыл бұрын
TWICE. Sorry, you left that out of your title.
@leonardoisidoro3224
@leonardoisidoro3224 4 жыл бұрын
Go Sunpower were one of the biggest solar companies in the world .Google us
@joeydoink-doink742
@joeydoink-doink742 4 жыл бұрын
Erin brockovich is in her glory....
@ae1ae2
@ae1ae2 4 жыл бұрын
People in SF and other similar urban centers in the Bay Area are paying elevated rates to subsidize surrounding regions. Within 5 years, it will be cheaper for each urban home to go fully off-grid with solar and multiple days of battery storage, meaning PG&E is going to lose its cash cow, and they'll have to hike rates on everyone else still on the grid. Of course, shortly thereafter, economics will push everyone else to go off-grid with solar / battery, likely in local microgrids for more robust systems. PG&E is just like Blockbuster was in 2005 -- on the decline, and soon to be put in the trashbin of history because technological advancement. Good riddance to bad rubbish.
@arunavasarkar3600
@arunavasarkar3600 4 жыл бұрын
no punishment while people BURNED ALIVE . Amazing.
@AdmiralFroggy
@AdmiralFroggy 4 жыл бұрын
Blame it on the utility right? What a joke
@mobiles735
@mobiles735 4 жыл бұрын
I am india nice video
@djtechs345
@djtechs345 4 жыл бұрын
HOW PG&E MADE ITSELF FILE FOR BANKRUPTCY..FTFY
@PHOBOS1708
@PHOBOS1708 4 жыл бұрын
small things can lead to big problems
@abigailpoppins6183
@abigailpoppins6183 4 жыл бұрын
Now.
@AreDoWeSheIt
@AreDoWeSheIt 4 жыл бұрын
why not go underground
@adamgarcia8684
@adamgarcia8684 4 жыл бұрын
6:55 Did they call the wild giant forest fire a camp fire ?
@raffiaroyan1118
@raffiaroyan1118 4 жыл бұрын
These fires are named by the closest named location to ground zero, in this case it was Camp Creek Road, hens the name is the camp fire
@HAMID___
@HAMID___ 4 жыл бұрын
Utility services shouldn’t be privatized.
@auro1986
@auro1986 4 жыл бұрын
lay cables underground
@asfasf4483
@asfasf4483 4 жыл бұрын
The main problems was trees falling on power lines during storms. This was due to state regulation and not allowing to cut these trees which ultimately caused the fire.
@mikerock8177
@mikerock8177 4 жыл бұрын
PG&e should be out of business for good
@addanametocontinue
@addanametocontinue 4 жыл бұрын
Just remember it's not the company that is evil, it's the people in upper management running it. PG&E can go out of business, but the decision-makers will simply get hired elsewhere and screw over more people.
@gregorymalchuk272
@gregorymalchuk272 4 жыл бұрын
Enjoy the rolling blackouts.
@garygerard4290
@garygerard4290 3 жыл бұрын
I'd think if they declare bankruptcy All top and upper management need to be let go. No golden parachute and no stock options. And for good measure the top/head guy gets hung Let me know when they declare this, I'm going to skip paying my bill 'smart move, uh?
@ghost122gun
@ghost122gun 4 жыл бұрын
The richest country in the world and a company who has killed hundreds of people still allowed to operate. People would read that and think I made it up !
@ALPHADOG1900
@ALPHADOG1900 4 жыл бұрын
I recently invested in the company they made tremendous changes in their leadership & board.
@valencia0113
@valencia0113 4 жыл бұрын
This is happening in us ? Lol
@teejay818
@teejay818 4 жыл бұрын
Who knew Ben Affleck knew so much about power grids?
@windythecatt
@windythecatt 3 жыл бұрын
85mph winds and their equipment breaks. why is anyone shocked? i mean at what wind speed are they not responsible for equipment breaking? you hit 85 mph gusts with a dry tinderbox forest of northern ca, surrounding thousands of square miles, and you may have some fires! i think its being greatly exaggurated that pge is to blame for what happened here
@basit147
@basit147 4 жыл бұрын
Corporate Greed
@kryptokingg
@kryptokingg 4 жыл бұрын
This also has to do with climate change that accelerated the fires
@davidperry4013
@davidperry4013 4 жыл бұрын
I hope PG&E folds.
@martinasommer1306
@martinasommer1306 4 жыл бұрын
Wind power, solar ,turbine power seems like a better idea🌠🌞🌜💧🔥
@kileysnelling6066
@kileysnelling6066 4 жыл бұрын
Renewable power still needs transmitted through power lines
@doom2avatar
@doom2avatar 4 жыл бұрын
It’s already hydroelectric which is a renewable
@doom2avatar
@doom2avatar 4 жыл бұрын
In fact if they used only coal power this wouldn’t be a problem since you can build the coal plant right next to the city. (Not a supporter of coal)
@VinceroAlpha
@VinceroAlpha 4 жыл бұрын
doom2avatar you do realize that in order to support the demand of electricity of the Bay Area that coal plant is going have to be huge, stay on 24/7 and still use transmission lines because you can’t just simply “put it next to the city.”
@VinceroAlpha
@VinceroAlpha 4 жыл бұрын
Dalton Black yeah let’s not forget building a nuclear Powerplant in a earthquake, wildfire and mudslide prone area that has the capacity to have an accident similar to Fukushima. Or better yet, what to do with the nuclear waste made from the powerplant that won’t even START to decay for HUNDREDS OF YEARS. Brilliant solution.
@latentspacex
@latentspacex 4 жыл бұрын
California has such great gdp but they can't make sure their power stays on
@keithbrown3045
@keithbrown3045 4 жыл бұрын
There's no way California would take over PG&E! The amount of liability would be far to high..
@shanewillbur1325
@shanewillbur1325 4 жыл бұрын
We should have Sempra Energy Take it over. Its their turn to take a stab at it
@bgroks1
@bgroks1 4 жыл бұрын
Shane Willbur PCG has a new CEO and I think a few new board members who seem to be doing well at turning things around.
@hooverelondono9946
@hooverelondono9946 4 жыл бұрын
Tesla batteries and solar will take over
@twothreefour234
@twothreefour234 4 жыл бұрын
They cant do their own jobs right let alone run a utility.
@FFFF-mb4qm
@FFFF-mb4qm 3 жыл бұрын
Nationalise all public utilities in California.
@chrisgouger9299
@chrisgouger9299 3 жыл бұрын
With the state already financially insolvent i'm sure that would go well...
@SportZFan4L1fe
@SportZFan4L1fe 4 жыл бұрын
Profits over humanity. The California way.
@bbbt8090
@bbbt8090 4 жыл бұрын
Money hungry
@HupCapNinja
@HupCapNinja 3 жыл бұрын
I am convinced that PG&E uses the cheapest materials to make everything they got.
The Controversy Behind Nike’s Vaporfly Running Shoe, Explained | WSJ
8:27
The Wall Street Journal
Рет қаралды 7 МЛН
MEU IRMÃO FICOU FAMOSO
00:52
Matheus Kriwat
Рет қаралды 36 МЛН
Just try to use a cool gadget 😍
00:33
123 GO! SHORTS
Рет қаралды 85 МЛН
Wait for the last one! 👀
00:28
Josh Horton
Рет қаралды 118 МЛН
What Really Happened During the Texas Power Grid Outage?
16:48
Practical Engineering
Рет қаралды 3,4 МЛН
What Happens To Abandoned Golf Courses | WSJ
5:21
The Wall Street Journal
Рет қаралды 287 М.
Can PG&E Stop Causing So Many Fires In California?
17:52
PG&E: Politics and crime | A FIRE - POWER - MONEY SPECIAL
20:18
How Aramco Became the Biggest Company in the World | WSJ
10:19
The Wall Street Journal
Рет қаралды 389 М.
How the U.S. Snagged All These Islands
16:23
Johnny Harris
Рет қаралды 1,7 МЛН
Inside Disney’s ‘Area 51,’ Where Lightsabers and Other Tech Are Invented | WSJ
8:49
Watch: Extended one-on-one interview with PG&E CEO Patti Poppe
22:27
MEU IRMÃO FICOU FAMOSO
00:52
Matheus Kriwat
Рет қаралды 36 МЛН