In This Issue:

* Third World or Third Rate?  We compare California's regulatory
system to Argentina's and find the latter's to be far superior.  Despite the
fact that American consultants played a substantial role in designing superb
regulatory systems for many Latin American countries, the lessons were not
well-applied at home.

* Energy Technology News:  A very busy week, highlighted by events
surrounding the power "crisis" in California and the Pacific Northwest.  Our
news summary and analysis begins on page 10.

* Energy Technology Stock Performance Tables

Prometheus Unbound:  Navigating the Structural Revolution in Electric Power,
will be back from the printer on Monday.  To be sure you receive a copy,
email us to request one.  (While the report is information-packed, at 330
pages we don't recommend it as a stocking stuffer.  Reading it might
alleviate the holiday blahs, especially if you're snowed in).

Best regards and happy holidays,
Cary, Steve and Peter

 <<prometheus001215.pdf>>

 - prometheus001215.pdf