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Holding down rates like holding back sea

Holding down rates like holding back sea

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Trouble was brewing in the state. Electric rates were rising and the people were upset. The advisors and political operators were looking at the charts and polls and they came up with The Plan.

They came to the office of The Man and set up their stands with the presentations and folders of three-color charts and they plugged in their laptops and their projectors with their Power Point presentations and they said, “You are the Man! You can tell the power companies what to do and they will have to do it. You can hold back the tide of rate increases and the people will be pleased and you and your entourage will all be re-elected.”

You can see where this is going. A wise guy, like King Canute, whose story this little homage is based on, told his crew to set the throne at the edge of the waves where he ordered the sea to stop and come no further. He got his feet wet.

Gov. Blagojevich can't stop the cost of electricity from rising any more than Canute could stop the sea from coming in.

He can damage the power companies, ruin the electricity delivery system, bankrupt hundreds of companies, cost the state taxpayers a ton of money and disrupt the business of the state, but he cannot repeal the laws of supply and demand, any more than Canute could repeal the physical laws of gravitation.

A wise man knows his limitations. I don't know if the governor is wise or not, but I do know that he cannot hold the cost of electricity at 1997 rates any more than he can hold property tax rates at the 1997 rate.

I think that deep in his heart, the governor knows it, too.

Wally Taylor

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