Cost of Going Green: Creditworthiness of Los Angeles Threatened -- Not a Bakken Story

This is truly incredible. Politicians, to be politically correct, were willing to put the creditworthiness of Los Angeles at risk for a problem that doesn't exist.

A dispute over rate hikes, sought last spring to help pay for new environmental initiatives, exploded into a highly public standoff that briefly threatened the city's overall financial standing.

Pet projects are lining the pockets of politically-connected folks on the backs of low-income and middle-income rate payers.