Obama Wants to Close the Enron Loophole – June 25, 2008

Posted on June 25, 2008. Filed under: Uncategorized |


Obama has said that as president, he would reduce CO2 emissions 80% by 2050 and institute carbon emissions trading immediately. So it’s no surprise that Al Gore has endorsed him. It’s also no surprise that a young politician with only eight years in the Illinois Senate and only three years in the U.S. Senate, spending the last year and a half of that campaigning for president, suddenly popped up out of the blue and has catapulted almost to the doorstep of the White House. No one can figure it out. Where did he come from? How has he risen so quickly to such a high office? Few had ever heard of him before. Where did he get all the money to run his campaign? Who is behind this?

No one has answered that question yet, but some things are beginning to surface. This man is from Chicago where Richard Sanders has set up a carbon emissions credit trading company. How convenient would it be for Sanders to have Obama in the Oval Office? Al Gore has a company that depends on global warming legislation, CO2 caps and carbon offset trading. Having expressed his intention to institute cap and trade and push for global warming legislation, Obama is the perfect Oval Office Occupant for Al Gore. The two will most likely be pretty cozy in the future.

Recently, Obama stated that he wants to “close the Enron loop-hole.” Now that opens up a whole new discussion about Al Gore, the Global Warming Hoax and big corporations “going green” (money green). If Obama truly wants to close the Enron loop-hole, he is talking to the right man – the one who created it.

Facts that shed light on the GW scheme: http://www.freerepublic.com/focus/news/737753/posts


The Clinton-Gore Administration’s Global Warming Agreement Would Have Helped Enron. “The Clinton administration’s interest in an international agreement to combat global warming also dovetailed with Enron’s business plans. Enron officials envisioned the company at the center of a new trading system, in which industries worldwide could buy and sell credits to emit carbon dioxide as part of a strategy to reduce greenhouse gases. Such a system would curtail the use of inefficient coal-fired power plants that emitted large amounts of carbon dioxide, while encouraging new investments in gas-fired plants and pipelines — precisely Enron’s line of business.”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

Enron Shaped The Clinton-Gore Global Warming Policy. At a July 1997 meeting, Enron was part of a select group that shaped the administration’s case for policy action on the theory of man-made climate change.
(Christopher C. Horner, “Controlling Hypocritical Authority,” National Review, April 23, 2002)

Ken Lay Urged Clinton And Vice President Gore “To Back A ‘Market-Based’ Approach To The Problem Of Global Warming,” Which Would Be “Good For Enron Stock.” In a White House meeting in August 1997, “Lay urged President Clinton and Vice President Gore to back a ‘market-based’ approach to the problem of global warming — a strategy that a later Enron memo makes clear would be ‘good for Enron stock.'”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

Ken Lay Said The Kyoto Global Warming Accord Would Dramatically Help Enron. Following the White House meeting, Ken Lay said there was broad consensus in favor of an emissions-trading system. An internal Enron memo noted that “the Kyoto agreement, if implemented, would ‘do more to promote Enron’s business than almost any other regulatory initiative outside of restructuring the energy and natural gas industries in Europe and the United States.'”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

Ken Lay Bragged That Gore Had “Solicited” His Views On Global Warming. “In an August 1997 memo by Mr. Lay to all Enron employees, the chairman said Mr. Clinton and Mr. Gore had ‘solicited’ his view on how to address the issue of global warning ‘in advance of a climate treaty to be negotiated at an international conference.’ That memo said Mr. Clinton agreed a market-based solution, such as emissions trading, was the answer to reducing carbon dioxide in the atmosphere.”
(Jerry Seper, “Enron Gave Cash To Democrats, Sought Pact Help,” The Washington Times, January 16, 2002)

Enron Officials Pressured The Clinton-Gore Administration To Restructure Legislation Relating To Global Climate Change. “Despite the Senate decision, Enron continued to push the Clinton administration well into 1998 for what the company called a ‘restructuring’ of legislation that would have been a ‘first step to solving the problems of global climate change.‘ The firm, according to the records, sought laws that would have favored Enron’s natural gas inventory and reduced competition from coal.”
(Jerry Seper, “Enron Gave Cash To Democrats, Sought Pact Help,” The Washington Times, January 16, 2002)

The Clinton-Gore Energy Department “Rework[ed]” Its Proposal So That It Was To Enron’s Liking. “Drafting a 1995 plan to help facilitate cash flow and credit for energy producers, it asked for Enron’s input-and listened. The staff was directed to ‘rework the proposal to take into account the specific comments and suggestions you made,’ Clinton Deputy Energy Secretary Bill White wrote an Enron official.”
(Michael Weisskopf, “Enron’s Democrat Pals,” Time, August 17, 2002)

Enron Said The Final Gore Global Warming Treaty Was “Another Victory For Us.” An internal Enron memo about the Kyoto Protocol said,“[i]f implemented, this agreement will do more to promote Enron’s business than will almost any other regulatory initiative outside of restructuring the energy and natural gas industries in Europe and the United States. . . This agreement will be good for Enron stock!!’ Drafted by Enron’s Kyoto emissary immediately upon his return from Japan, it praises individual Kyoto features with ‘we won,’ ‘another victory for us,’ and ‘exactly what I have been lobbying for.'”
(Christopher Horner, “Outside View: Caught En Flagrente Kyoto,” United Press International, January 31, 2002)


Ken Lay Was A Clinton Golfing Partner And Energy Advisor. Lay played golf with President Clinton and “[advised] the Democratic administration on energy.”
(David Ivanovich, “Power Play,” The Houston Chronicle, November 10
, 2001)

The Clinton-Gore Administration Supported Enron’s Agenda To Deregulate Electricity. “Closer to home, deregulation of the electric-power industry tops the company’s domestic political agenda. To date, electricity deregulation has progressed piecemeal, state by state. Bills in Congress [to] deregulate the industry nationwide have gone nowhere. Enron officials were able to enlist the support of the Clinton administration, but the legislation failed to move on Capitol Hill, largely because of personalities and turf issues.”
(David Ivanovich, “The New Power,” The Houston Chronicle, April 15, 2001)

A Regulatory Change By The Clinton-Gore Administration Transformed Enron. “Key orders by FERC in 1996 also supported Enron’s transformation into a freewheeling trader of gas, electricity and more exotic products, such as telecommunications services and sulfur-dioxide emissions credits. The new rules ensured that Enron and other merchant companies could buy electricity from independent power plants and sell it to distant customers, using transmission lines borrowed from utility companies.”
(Dan Morgan and Juliet Eilperin, “Campaign Gifts, Lobbying Built Enron’s Power In Washington,” The Washington Post, December 25, 2001)

Enron Lobbied Clinton To Act On FERC Order 888 And “Allow Wholesale Open Access To The Nation’s Electricity Transmission Grid.” “Gas companies, trade groups and utilities are barraging the White House with support for the Federal Energy Regulatory Commission’s (FERC) Order 888, telling President Clinton that the administration should not delay implementation because of unfounded environmental concerns. . . . Order 888 will allow wholesale open access to the nation’s electricity transmission grid. Also writing to Clinton was a group of 26 trade groups and energy companies that urged that EPA not turn the rule over to the Council on Environmental Quality (CEQ) for review. The group includes . . . Enron Corp. . . .”
(Paul Connolly, “Gas Firms Ask White House To Move On FERC’s Electric Rule,” The Oil Daily, May 14, 1996)

Clinton-Gore Energy Secretary Federico Pena Urged The White House To Take Action On Energy Legislation Favored By Enron. “Lay met with Energy Secretary Federico Pena to urge White House action on electricity legislation favored by Enron. Pena ‘suggested that President Clinton might be motivated [to act] by some key contacts from important constituents,’ according to another Enron memo. Taking the cue, Lay, one of 25 business executives on Clinton’s Council on Sustainable Development, wrote to the president the same day.”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

In 1992, Clinton Signed A Major Energy Bill (H.R. 776) That “Set The Stage For A New Wholesale Electricity Marketplace” And The Growth Of Enron. The law “set the stage for a new wholesale electricity marketplace. Trading companies such as Enron could use the transmission lines of regulated utility companies to sell [blocks] of electricity to private customers.”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

Energy Secretary Pena Solicited Comments From Enron On The Clinton-Gore “Comprehensive National Energy Strategy.” “Pena asked Enron officials to keep Energy Department staffers posted on developments in Congress, and solicited comments on the administration’s draft of its Comprehensive National Energy Strategy, an Enron document said. Lay felt the draft was ‘headed in the right direction’ except for a few points, the document said.”
(Dan Morgan, “Enron Also Courted Democrats,” The Washington Post, January 13, 2002)

An Enron Spokesman Said That The Company Was Encouraged By The Final Clinton-Gore Plan. “Houston-based Enron Corp., a gas and electricity utility that has been aggressively pushing into newly deregulated state markets and is increasingly competing with Southern Co., said it was encouraged by the plan. ‘We like that there’s an absolute deadline for competition,’ said Enron Senior Vice President Steven Kean.”
(Matthew C. Quinn, “Plan For Deregulating Nation’s Electric Utilities Finally Sent To Congress,” The Atlanta Journal And Constitution, March 26, 1998)

Provisions In The Clinton-Gore Energy Plan Were “Much To The Liking” Of Enron. “Under the Clinton plan, states would not be compelled to open up their markets to competition. States could retain the status quo if they decided their consumers would be better off with a regulated, monopoly system, although they would be forced to hold public hearings to explain why competition would not work. That provision is much to the liking of officials at Houston-based Enron Corp., the natural gas and power giant that has led the electricity deregulation push.”
(David Ivanovich, “Clinton Power Deregulation Plan Detailed,” The Houston Chronicle, March 26, 1998)

Enron’s gone, but we still have General Electric, Gore and Blood’s Generation Management Fund, Sanders’ Chicago Climate Exchange, and a host of other people and companies prepared to rake in the millions and billions of dollars when they finally get a president that will sign their businesses into law.

There is no more time to do nothing.

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