Comment by ejfinneran

"One of their functions, which Wall Streeters call arbitrage, was to try to buy power at a low price in one place and sell it at a higher price somewhere else."

http://articles.latimes.com/2002/may/09/business/fi-scheme9

Worked great for Enron.

Also, China's energy is cheap because 75% of their grid is powered by burning coal. He doesn't mention climate change at all in this article.