The ostensible argument for power privatisation is that NSW needs the money for schools, hospitals and other expenditure. The reality is that sale of capital is touted as the way to finance ongoing expenditure, analogous to the classic case of the farmer who sells off a bit of the farm each year to keep the family clothed and food on the table.
Comment: Labor caucus's capitulation an unparalleled display of spinelessness
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NSW power play stirs up a-giant of global warming by John Garnaut, The Age, 12 May 08
SOONER or later, some anti-privatisation activist will start doing background checks on China Huaneng Group, which is at the front of the queue to bid for $15 billion in NSW power assets. They'll see that Sydney might soon be powered by the world's biggest corporate contributor to global warming.