Wednesday, June 08, 2005

Former Enron Executives Slated to Receive Taxpayer Handouts for New Project

This is yet another example of favoritism to the rich and unscrupulous. We all have to admit this is reprehensible. What about the Enron scandal? Aren't these the same guys that created the rolling blackout in California in 2000; that gave themselves bonuses at the expense of their employees; that donated millions of dollars to the Bush Administration; that ran Enron in the ground and left their employees penniless; on and on and on... And now, they are getting hundreds of millions of taxpayers' dollars to develop a power project. I guess we can kiss that money good bye. What does this say about the American people? And, what does this say about the American government?


Senate Energy Bill Contains Provision for Hundreds of Millions of Dollarsin Loan Guarantees for Power Project

WASHINGTON, D.C. – Buried in the 700-plus page energy bill currently under debate in the U.S. Senate is a provision that provides hundreds of millions of dollars worth of federal loan guarantees for a power project apparently to be built by four former Enron executives. One of the former executives is Thomas White, former head of Enron’s retail and energy trading in California during the energy crisis who later served as President Bush’s Secretary of the Army.

Title XIV, Section 1403(c)(1)(B) of the Senate energy bill provides federal loan guarantees for “a project to produce energy from coal … mined in the western United States using appropriate advanced integrated gasification combined cycle technology that minimizes and offers the potential to sequester carbon dioxide emissions and … shall be located in a western State at an altitude greater than 4,000 feet.”
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