Saturday, June 5, 2010

EOG Resources - f/k/a ENRON

Yep - that's correct. The company involved in and/or that caused one of the most visible natural gas incidents to date in Pennsylvania was once the almighty Enron.

You remember, right? Their CEO, "Kenny Boy" Lay, was a close & personal friend of our former president, Dubya. While on a family vacation in Colorado, he died before he was scheduled to be sentenced. Another Enron official, J. Clifford Baxter, committed suicide before he was set to testify in front of Congress. Conspiracy theories abound.

Anyway, seems they cooked their books for so long and in so many ways that, to quote from Wikipedia: 
As was later discovered, many of Enron's recorded assets and profits were inflated, or even wholly fraudulent and nonexistent
So, when we hear EOG Resources tell us that environmental damage was minimal or contained after 16+ hours of an unchecked blowout, we should believe them - right??

1 comment:

Anonymous said...

I explored the electricity deregulation fiasco in PA a few years back. While events of recent years indicate that deregulation is not the way to go, PA had long ago committed to this path while postponing impacts for many years. We are now there. Turns out it was old Kenny Boy who had come to the Commonwealth back in the heady days of Enron, buddied up with Gov. Ridge, and got PA to go whole-hog into deregulation, after having completely annihilated California with the same - remember rolling black-outs?.