SHORTLY AFTER TAKEOFF, THE AIRCRAFT EXPERIENCED A POWER FAILURE. THE PILOT STATED THAT WHEN THE POWER LOSS OCCURRED HE SWITCHED THE FUEL SELECTOR FROM THE LEFT TANK TO THE RIGHT TANK AND SELECTED "MAX HI-ON" ON THE FUEL BOOST PUMP. HIS ATTEMPTS TO RESTART THE ENGINE WERE UNSUCCESSFUL. THE PILOT FURTHER STATED THAT AFTER THE MISHAP HE CHECKED BOTH FUEL TANKS; THE LEFT TANK WAS EMPTY AND THE RIGHT TANK WAS PARTIALLY FULL. HE ALSO STATED THAT ON A PREVIOUS FLIGHT THAT DAY, FUEL WAS SIPHONING FROM THE LEFT TANK, BUT THE CONDITION ALLEVIATED ITSELF WHEN HE RESECURED THE FUEL CAP. FUEL SIPHONING USUALLY OCCURRS WHEN THE BOTTOM OF THE FUEL BLADDER IS NOT SECURED AND THE BLADDER COLLAPSES UPWARD. THIS CONDITION CAN CAUSE ERRONEOUS FUEL QUANTITY INDICATIONS. A REVIEW OF THE AIRCRAFT FLIGHT MANUAL INDICATED THAT ACTUATION OF THE "MAX HI-ON" HALF OF THE FUEL BOOST PUMP SWITCH DURING ENGINE RESTART CAN CAUSE FLOODING OF THE INTAKE MANIFOLDS.