Book

California Burning: The Fall of Pacific Gas and Electric--and What It Means for America's Power Grid

2022

Synopsis

Pacific Gas and Electric was a legacy company built by innovators and visionaries, establishing California as a desirable home and economic powerhouse. In California Burning, Wall Street Journal reporter and Pulitzer finalist Katherine Blunt examines how that legacy fell apart—unraveling a long history of deadly failures in which Pacific Gas and Electric endangered millions of Northern Californians, through criminal neglect of its infrastructure. As PG&E prioritized profits and politics, power lines went unchecked—until a rusted hook purchased for 56 cents in 1921 split in two, sparking the deadliest wildfire in California history.

Beginning with PG&E’s public reckoning after the Paradise fire, Blunt chronicles the evolution of PG&E’s shareholder base, from innovators who built some of California's first long-distance power lines to aggressive investors keen on reaping dividends. Following key players through pivotal decisions and legal battles, California Burning reveals the forces that shaped the plight of PG&E: deregulation and market-gaming led by Enron Corp., an unyielding push for renewable energy, and a swift increase in wildfire risk throughout the West, while regulators and lawmakers pushed their own agendas.

California Burning is a deeply reported, character-driven narrative, the story of a disaster expanding into a much bigger exploration of accountability. It’s an American tragedy that serves as a cautionary tale for utilities across the nation—especially as climate change makes aging infrastructure more vulnerable, with potentially fatal consequences.

Suggested Reading

Infectious Greed: How Deceit and Risk Corrupted the Financial Markets

In "Infectious Greed: How Deceit and Risk Corrupted the Financial Markets," Frank Partnoy delivers a sharp, narrative-driven account of how the U.S. financial system unraveled in the late 20th and early 21st centuries, tracing the roots of major corporate scandals back to the 1980s. Partnoy, a forme...

Fire in Paradise: An American Tragedy

There is no precedent in postwar American history for the destruction of the town of Paradise, California. On November 8, 2018, the community of 27,000 people was swallowed by the ferocious Camp Fire, which razed virtually every home and killed at least 85 people. The catastrophe seared the American...

We use cookies to improve your experience on our website. By continuing to browse, you accept our Cookie Policy and Privacy Policy.