[hsalaw]

Oh, please. The answer is not the eeeeeeevil speculators; the answer is DRILL HERE, DRILL NOW.

[steel_resolve]

are you kidding? Did you even read the article?

[OldNavyVet]

You’re right. Speculators take risks that go both ways.

Once they’re in, speculators have no control over anything until the moment they close their positions.

[TigerLikesRooster]

There is nothing in the article which indicates the opposition to drilling. I did not post this article to oppose the drilling either. On the contrary, I am for it.

[oioiman]

In this case, evil is probably the correct adjective, as the folowing internal Enron/Vitol SA e-mails help flesh out. (Vitol SA, based out of Geneva, Switzerland is the company that held, just by itself, 11 percent of all oil call futures contracts for nine months, thus giving it tremendous, unaccountable market-making leverage capacities in regards to oil prices) They involve the efforts by Vitol SA Managing Director David Fransen and key Enron executive Stephanie Panus to set up joint complex derivative accounts to hide losses from real-time fiscal accounting laws. (ISDA is International Swaps and Derivatives Association, an advocacy group for this murky business) http://www.cs.cmu.edu/afs/cs/user/lsl/radar/Year4/Enron/maildir/panus-s/inbox/18. Message-ID: <33481604.1075863216766.JavaMail.evans@thyme> Date: Tue, 30 Oct 2001 00:39:11 -0800 (PST) From: dbf@vitol.com To: stephanie.panus@enron.com Subject: RE: Vitol/Enron ISDA Cc: giw@vitol.com Mime-Version: 1.0 Content-Type: text/plain; charset=us-ascii Content-Transfer-Encoding: 7bit Bcc: giw@vitol.com X-From: David Fransen @ENRON X-To: Panus, Stephanie X-cc: Gilbert Widmer X-bcc: X-Folder: \SPANUS (Non-Privileged)\Panus, Stephanie\Inbox X-Origin: Panus-S X-FileName: SPANUS (Non-Privileged).pst Thanks, Stephanie ... I look forward to your reply in due course .. I guess that your credit people are rather tied up at the moment. Regards, David David Fransen Vitol SA Geneva Tel : ********************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ********************************************************************** -----Original Message----- From: Stephanie.Panus@enron.com [mailto:Stephanie.Panus@enron.com] Sent: 29 October 2001 15:17 To: DBF@Vitol.com Subject: RE: Vitol/Enron ISDA Our Credit Dept is currently reviewing your comments. I will check with them and let you know something. Stephanie Panus Senior Legal Specialist Enron Wholesale Services 1400 Smith Street, EB3803C Houston, Texas 77002 ph: 713.345.3249 fax: 713.646.3490 email: stephanie.panus@enron.com -----Original Message----- From: David Fransen @ENRON Sent: Saturday, October 27, 2001 3:31 AM To: Panus, Stephanie Cc: Gilbert Widmer; Keith Swaby; Martha Garrison Subject: Vitol/Enron ISDA Hi, Stephanie, I wanted to check where we are on the ISDA ... we sent you a proposal at the end of Sept, and you and I have exchanged a couple of emails since then, but overall I believe that the ball is still ' in your court'. Is this correct? Regards, David David Fransen Vitol SA Geneva Tel : ********************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ********************************************************************** ********************************************************************** This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. ********************************************************************** http://www.enronexplorer.com/show_email/20209 RE: Vitol/Enron ISDAEmail detailsFrom: dbf@vitol.com To: Stephanie Panus , kws@vitol.com , giw@vitol.com Sent: 04/10/2001 at 21:37 Email metadataThemes: Revised Draft --------------------------------------------------------------------------------The messageHi, StephanieVCM has an office in bermuda and in Houston ... you will tend to deal with the Houston office most of the time on trading, invoicing and collateral matters.I trust that this answers your questionRegards, DavidDavid Fransen Vitol SA Geneva Tel : ********************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender. ********************************************************************** -----Original Message----- From: David Fransen @ENRON[mailto:IMCEANOTES-David+20Fransen+20+3CDBF+40Vitol+2Ecom+3E+40ENRON@ENRON.c om]Sent: Friday, September 28, 2001 1:25 AM To: Panus, Stephanie Cc: Gilbert Widmer Subject: RE: Vitol/Enron ISDAGreat ... thanks for the emailWe look forward to your replyRegards, David -----Original Message----- From: Stephanie.Panus@enron.com [mailto:Stephanie.Panus@enron.com] Sent: 27 September 2001 21:52 To: DBF@Vitol.com Subject: RE: Vitol/Enron ISDADavid, Sorry to not respond earlier. We did receive the attachments in readable format and Francisco is currently reviewing them.-----Original Message----- From: David Fransen @ENRON[mailto:IMCEANOTES-David+20Fransen+20+3CDBF+40Vitol+2Ecom+3E+40ENRON@ENRON.c om] Sent: Friday, September 21, 2001 3:51 AM To: Panus, Stephanie Cc: Martha Garrison; Gilbert Widmer; Keith Swaby; Vanek, Darren Subject: Vitol/Enron ISDAHello, Stephanie,I must first apologise for the delay in replying to your email/attachments fo 24 July.Our reply is for the ISDA with Vitol Capital Management, but I hope that once we have agreed the wording for this , we will be able to quickly implement ISDA's for the other Vitol and Enron entities involved ... I expect that we will just have to change the tax declarations, the address details and a few other similar minor items.Attached is a covering letter and revised draft schedule.<> < by Vitol Sept 11, 2001.doc>>Can you please confirm that you receive this email and the attachments in a 'readable' format?Thanks and regards, DavidDavid Fransen Vitol SA Geneva Tel : ********************************************************************** This email and any files transmitted with it are confidential and intended solely for the use of the individual or entity to whom they are addressed. If you have received this email in error please notify the sender.**********************************************************************- X M Sept. 21, 2001 Reply to ENA.doc << File: X M Sept. 21, 2001 Reply to ENA.doc >> - X Draf Schedule Revised by Vitol Sept 11, 2001.doc << File: X Draf Schedule Revised by Vitol Sept 11, 2001.doc >>********************************************************************** This e-mail is the property of Enron Corp. and/or its relevant affiliate and may contain confidential and privileged material for the sole use of the intended recipient (s). Any review, use, distribution or disclosure by others is strictly prohibited. If you are not the intended recipient (or authorized to receive for the recipient), please contact the sender or reply to Enron Corp. at enron.messaging.administration@enron.com and delete all copies of the message. This e-mail (and any attachments hereto) are not intended to be an offer (or an acceptance) and do not create or evidence a binding and enforceable contract between Enron Corp. (or any of its affiliates) and the intended recipient or any other party, and may not be relied on by anyone as the basis of a contract by estoppel or otherwise. Thank you. ********************************************************************** Trampoline Enron Explorer from Trampoline Systems. Powered by SONAR. Copyright Trampoline Systems © 2006.

[ovrtaxt]

Exactly. If we embark on a serious energy plan like the American energy Act

http://www.govtrack.us/congress/bill.xpd?bill=h110-6566

the price of oil will tank hard and fast.

Remember a month ago when Bush lifted the executive order on offshore drilling restrictions? The market responded and dropped $30/ barrell in two weeks or so.

The market isn’t the problem, government policy is the problem.