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5 political cartoons about PG&E

Amid massive power shutoffs statewide, Pacific Gas & Electric’s greatest effort to mitigate wildfire risks this year, let’s review why Californians love to hate PG&E.

As the utility company navigates bankruptcy related to a series of deadly wildfires in 2017 and 2018 directly linked to PG&E’s equipment being a principal cause of the infernos, a federal judge lambasted it for pumping out $4.5 billion in dividends to shareholders instead of investing in wildfire prevention.

PG&E is also a convicted felon on probation after a federal jury in 2016 found it guilty for crimes it committed before and after a fatal explosion that killed eight people and destroyed a San Bruno neighborhood in 2010.

The company sought bankruptcy protection on Jan. 29 to ward off a menacing mountain of liabilities and wildfire-linked claims in a Chapter 11 proceeding that listed $51.69 billion in debts.

PG&E stock was last down 29%, putting it on track for its fifth biggest one-day percentage decline and second-biggest of 2019, Marketwatch reported Thursday.

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