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Topic: Enron allegedy tested schemes in Alberta
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candle
rabble-rouser
Babbler # 3103
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posted 08 February 2005 03:06 AM
Enron - Alberta quote: Alberta's Energy Minister told a Calgary newspaper yesterday that he was skeptical the alleged scheme, which was believed to have been code-named "Project Stanley," in honour of the Stanley Cup hockey trophy, would be proven true."There is nothing to suggest any wrongdoing here in Canada," Mr. Melchin told the Calgary Sun. He also said that even if the claims are true, it would be difficult for the province to recover any money. "Enron is in bankruptcy . . . there is nothing to get," he said.
The issue here isn't whether Alberta can recover the money - the issue is whether deregulation opened up the Alberta energy market to these type of manipulations to the detriment of Alberta consumers and taxpayers. More Today
quote: The conversation came within weeks of a study prepared for Enron that showed its actions, and similar trades by other firms, dramatically inflated electricity prices in Alberta in the summer of 1999.In essence, the company targeted electricity markets at times of tight supply, selling contracts when it or others had withdrawn bids to supply power and driving up the spot rate. New contracts were submitted at a higher price.
From: Ontario | Registered: Sep 2002
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maestro
rabble-rouser
Babbler # 7842
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posted 08 February 2005 04:59 AM
Report On Business, Monday February 7, 2005 Page 1 quote: ...the Alberta government is expected to address allegations today that Enron Corp. secretly used it as a testing ground for power-trading schemes as the provnce was deregulating its electricity sector......the now bankrupt American energy trader made CAN $45 million in a single day by creating a fake power shortage on Alberta's deregulated power grid.
Yeah, 45 mil in a day...no problem. Or as Alberta's Energy Minister should have said: "There was nothing illegal about what Enron did because, as a government, we adhered blindy to the doctrine of free enterprise no matter what. We just didn't think it through. Enron took advantage of our cupidity and robbed people blind...oops, I guess I can't say that, can I? In any case, there's no point in Albertans crying about this. We have no intention of compensating those who paid for our stupidity with their hard earned dollars."
From: Vancouver | Registered: Jan 2005
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Polly Brandybuck
rabble-rouser
Babbler # 7732
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posted 08 February 2005 05:50 PM
quote: Originally posted by No Yards: They HANG horse thieves out there don't they? Can't wait for the "hang 'em high", "principled" conservatives to suddenly come to the realization as to who is the bigger threat to the family ... loving gay couples, or rich white American guys stealing food, education, and healthcare from you and your children ... Is that "Are Americans stupid" thread still open, and can it be edited to "Are Americans and Albertians stupid" ... or is that already implied in the title?
*sigh* And then you wonder why people in Alberta feel alienated from the rest of Canada.
From: To Infinity...and beyond! | Registered: Dec 2004
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maestro
rabble-rouser
Babbler # 7842
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posted 08 February 2005 07:49 PM
More in today's Report On Business: quote: ...the early evening in August, 2000, and two executives at Enron Carp., John Lavorato and Tim Belden were bantering about avoiding jail time - "at least" in one country..."I'm just ah - fuck, I'm just trying to be an honest camper, so I only go to jail once," said Mr. Lavorato, the supervisor of Mr. Belden. Mr. Belden, the head of Enron's trading office in Portland, Ore., quickly replies, "Well, there you go. At least in one country." ...The Snohomish County Public Utility District in Washington State contends the conversation is proof Enron traders were 'well aware of the illegal nature of their activities' and says Alberta was used to hone the trading techniques later allegedly used to illegally manipulate US power markets... ...The converation came within weeks of a study prepared for Enron that showed its actions, and similar trades by other firms, dramatically inflated electricity prices in Alberta in the summer of 1999.
Not much you can say. The good burghers of Alberta were taken to town, stripped of their wallets, and left standing on a street corner in their underwear. Way to go Ralph.
From: Vancouver | Registered: Jan 2005
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No Yards
rabble-rouser
Babbler # 4169
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posted 08 February 2005 09:00 PM
quote: Originally posted by housemouse:
*sigh* And then you wonder why people in Alberta feel alienated from the rest of Canada.
No I don't ... I know exactly why they feel alienated. They feel alientated because they were told to feel alienated by a bunch of crooks that want them to look the other way while they're getting their pockets picked by big American corporations and their Conservative lackies!
From: Defending traditional marriage since June 28, 2005 | Registered: Jun 2003
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Polly Brandybuck
rabble-rouser
Babbler # 7732
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posted 08 February 2005 09:16 PM
quote: Originally posted by ronb: Are you the least bit pissed off about this? Or are you too alienated to give a shit?
LOL. Of course I am pissed off. I have to PAY those fucking energy bills. I just got derailed by being labelled stupid so early in the thread. Here’s the thing. I live in Alberta. By it’s very definition, that makes me an Albertan. By No Yards definition, that makes me stupid. It [i]is[\i] too big a brush. If you were in a group that voted 7-3 in favor of making a stupid decision, would you also be stupid, even though you voted nay? Yes we have Ralph. Sorry about that, but I personally did not vote for him. He won the election but it wasn’t [b]unanimous.[\b] And while I disagree with most everything he does, and I am vocal as hell, he is just not listening to me! I am sure it is different where you are, voice of the people and all, but here it seems that no matter how much we bitch and write and email...our elected representatives just don't pay attention. Believe it or not, there are scads of us Non-Cowboys in the province (and I use that term in the sense that we usually see it here, not to denote horse riders). We have pro-choicers and pro-ssm-ers, we support PETA and gay rights and feminist causes. We have NDP. We have advocates for the mentally ill, the physically handicapped, the homeless. We have organizations dedicated to helping the less fortunate navigate our nightmare that is AISH and other under-funded overly regulated social programs in the province. I know, I work with one of these groups. For free, on a volunteer (not for profit – how un-Albertan) basis. Along with a whole lot of other really great dedicated people. Alberta has this reputation of being a bunch of bigoted big oil homophobic Christians. We are not - and I repeat, NOT - all like that.
From: To Infinity...and beyond! | Registered: Dec 2004
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Polly Brandybuck
rabble-rouser
Babbler # 7732
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posted 08 February 2005 09:20 PM
quote: Originally posted by housemouse:
LOL. Of course I am pissed off. I have to PAY those fucking energy bills. I just got derailed by being labelled stupid so early in the thread. Here’s the thing. I live in Alberta. By it’s very definition, that makes me an Albertan. By No Yards definition, that makes me stupid. It is too big a brush. If you were in a group that voted 7-3 in favor of making a stupid decision, would you also be stupid, even though you voted nay? Yes we have Ralph. Sorry about that, but I personally did not vote for him. He won the election but it wasn’t unanimous. And while I disagree with most everything he does, and I am vocal as hell, he is just not listening to me! I am sure it is different where you are, voice of the people and all, but here it seems that no matter how much we bitch and write and email...our elected representatives just don't pay attention. Believe it or not, there are scads of us Non-Cowboys in the province (and I use that term in the sense that we usually see it here, not to denote horse riders). We have pro-choicers and pro-ssm-ers, we support PETA and gay rights and feminist causes. We have NDP. We have advocates for the mentally ill, the physically handicapped, the homeless. We have organizations dedicated to helping the less fortunate navigate our nightmare that is AISH and other under-funded overly regulated social programs in the province. I know, I work with one of these groups. For free, on a volunteer (not for profit – how un-Albertan) basis. Along with a whole lot of other really great dedicated people. Alberta has this reputation of being a bunch of bigoted big oil homophobic Christians. We are not - and I repeat, NOT - all like that.
edited cuz I AM too stupid to get italics right
From: To Infinity...and beyond! | Registered: Dec 2004
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Américain Égalitaire
rabble-rouser
Babbler # 7911
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posted 08 February 2005 11:57 PM
quote: Originally posted by ronb: ... or Iowa. Oh wait, that's big Ethonol out by you, isn't it?
Ethanol is what you get when your through makin' cornstach so them too-wet Canadian wimminfolk can make their menfolk feel all big. (deleted more pointless country bumpkin talk). We could probably sell that stuff in truck stop sex shops all over Iowa. It'd be a swelling, growing, expanding market all over this god-fosaken patch of trouble. As for ethanol, just keep those Federal subsidies coming. Its the cheapest gas at the pump.
From: Chardon, Ohio USA | Registered: Jan 2005
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