Protester Sells Out To Sempra

Protester Sells Out To Sempra

After seeing how everything in 2008 was down (except his pillow because he could no longer afford it) and not a better outlook for 2009, a vehement protester against the Sunrise Powerlink and the policies of SDG&E and its parent Sempra Energy has finally sold out. He explained, “It’s almost a matter of life or death now. I can’t put my money anywhere safer, like a bank and I can’t get as good of a return on it anywhere else, not even in a big drug deal with all the pressure coming from law enforcement. So I put all my money in Sempra.” An article in the San Diego union on Feb. 25 confirms the theory. On Feb. 24 2009, Sempra stock increased 5.7% in one day- not bad. SDG&E’s fourth-quarter earnings increased 72% from $47 million to $81 million because of lower taxes and more profit allowed by the regulators who protect us. For 2008 profits increased 19.8% from 2007 to $339 million. But that’s nothing compared to Sempra as a whole which made $319 million in profits in the last quarter alone and $1.1 billion in 2008. The profits were made possible because Sempra also owns and traffics in gas, power plants and energy of indeterminate origin. A Sempra representative stated, “Yes, we do have some solar projects planned, but this other stuff is waay to good to give up.”

©2009 Eric Stamets