Word: enronize
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...heart attacks later, George W. Bush tapped Cheney to be the architect of his long-term energy policy, and after months of closed-door pondering with his task force and consultations with energy-industry lobbyists (including a luxurious half-hour chat with Kenneth Lay, CEO of Enron), the Hillary Clinton of energy emerged with 105 suggestions stretching over 170 pages...
...From tried-and-true sources, both politically and industrially. Big Coal won Bush-Cheney West Virginia and the November election; Big Oil and Big Energy (particularly Enron, who under Bush buddy Lay invested $1.3 million in Bush's presidential run and $461,000 in his gubernatorial efforts) got him that far. Cheney has looked around at the U.S. energy scene and decided that America's energy workhorses of the past two decades - fossil fuels, and if you want cleaner air, nuclear plants - have been recently over-burdened with regulation, and need to be unleashed...
...Rainfall as a spot market? Seemingly crazy thinking like this has paid off in the past for Skilling who has turned Enron from a gas pipeline business into a savvy Internet trader of commodities, everything from gas and energy to pulp and metals (two of their newer markets). Since Skilling came on board in 1990, revenues have shot up from $2.5 billion to $100 billion and he predicts they will reach $160 billion to $170 billion this year. (Uh, isn't this supposed to be a bad year...
...Enron, which soared on its tech connections, is now taking a beating with its tech-iness, and the boss is back to saying energy is their No. 1 business. And that's the good news. Prices for Enron's main market - natural gas - will skyrocket as demand climbs. Which is bad for Californians. Skilling predicts the shortfall in California this summer will be 5,000 megawatts - five times greater than the problem that sparked the power crisis in January. In fact, Skilling predicts Silicon Valley and homeowners alike will be paying for the state's misguided deregulation attempt for "another...
...soaring energy prices are good news for Enron stockholders, broadband is the bad. The company's new plaything, selling excess broadband capacity, isn't looking too hot right now despite an increase in activity. Enron's 20-year deal with Blockbuster last year to provide movies on demand right into your home collapsed recently after the Hollywood studios nixed Blockbuster's plans to control content. Now Enron is having to go to each studio, looking to sign up their archives for transmission...