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Bushwhacked:
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by Uri Dowbenko
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POWER SCAM
The Enron-Bush Connection
by Uri Dowbenko
How George Bush Jr. Got Layed
Federal Election Commission records show that Enron
Chairman Kenneth Lay donated more than $350,000
directly to Bush campaigns since 1997.
Lay also gave another $100,000 to Republican
candidates and fundraising committees.
In addition, Enron Corporation, including
employees, also donated $1.5 million in soft money to
Bush and Republican committees.
More recently, Lay and his wife donated $10,000 to
the "Florida Recount Fund," and another $100,000 to
the "Presidential Inaugural Fund."
As one of his fundraising "Pioneers," Lay helped
raise more than $100,000 for Bush's campaign for
president.
In consideration of these numbers, is it too much
to ask for a phony and contrived power "crisis" as a
payback?
Naah, not at all...
According to newswire reports, as a new energy
advisor for President Bush, Ken Lay says that precap
prices for wholesale electricity in the West "is not
even a short-term solution."
Not coincidentally, Enron is the largest power
marketer in the United States. A cap would limit the
prices it and other wholesalers could charge to
utilities. Wholesale power prices were deregulated
under the landmark 1996 law but retail rates were not.
Lay said the federal government should limit itself
to an "advisory" role, letting California leaders
resolve a "pretty much self-inflicted problem."
California's rolling blackouts have come as the two
large utilities, PG&E Corp. and Southern California
Edison, have struggled under huge debts through buying
electricity at higher wholesale prices than they can
recoup under the retail rates they are allowed to
charge.
In the short term, Lay said, the state government
will have to "buy the power to fill the short
positions of the utilities."
And to ensure Enron's unconscionable profit, he
should have added.
© 2001, Uri Dowbenko. All rights reserved.
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