Posted on 05/09/2002 3:05:33 PM PDT by Liz
WASHINGTON (AP) - Senate Majority Leader Tom Daschle said Thursday he believes Enron Corp. broke laws while manipulating electricity supply and prices during the California energy crisis.
"I don't think there's any doubt that somebody ought to go to jail and that we ought to find a way through public policy to fix a system that needs to be addressed," said Daschle, D-S.D.
California Republicans sought to blunt any partisan advantage for Democrats on the issue. Reps. Mary Bono and George Radanovich joined Democrats in calling for a Justice Department investigation of Enron's energy trading practices as explained in internal company memos made public this week.
"We now have reason to believe that illegal acts took place," Bono said.
The Enron documents described how the energy trading company sought to cash in on California's energy crisis in 2000 and 2001. During the crisis, wholesale energy prices shot up tenfold.
Democrats continue to fault the Bush administration and Republican leaders in Congress for taking a hands-off approach to the crisis, despite pleas from California to help control wholesale prices.
"The Bush administration and congressional Republicans sided with the energy companies and did nothing to help," said Rep. Henry Waxman, D-Calif.
At a news conference, Democrats from California, Washington and Oregon also criticized the Federal Energy Regulatory Commission, saying it was slow to act during the California crisis, waiting months to impose price caps.
"We told them Enron and others were gaming the system. So my question to FERC is, 'What took you so long?'" said Sen. Barbara Boxer, D-Calif.
Two panels in the Democrat-controlled Senate announced hearings next Wednesday on price manipulation in energy markets. FERC chairman Pat Wood is expected to testify at the Senate Energy and Natural Resources Committee. The Commerce Committee's consumer subcommittee also will hold a hearing.
But in the Republican-controlled House, the Energy and Commerce Committee is resisting calls from Democrats for an investigation of Enron's and other companies' energy trading strategies.
"The first thing to determine is how pervasive is the problem," said Ken Johnson, spokesman for Rep. Billy Tauzin, R-La., the committee chairman.
Enron's share of the $9 billion California is seeking in overcharges for electricity is just 1 percent, Johnson said.
Johnson said the committee would wait for the results of FERC's investigation. Federal energy regulators, who released the Enron documents this week, have given more than 150 power generators, marketers and utilities until May 22 to disclose whether they used similar practices.
California Gov. Gray Davis and Sen. Dianne Feinstein, D-Calif., praised FERC for quickly widening its probe.
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On the Net:
FERC: http://www.ferc.gov
Enron: http://www.enron.com
I nominate tom dash-hole or maybe billy and hilliary.
AMAZING
how the 'HOLE can come to a conclusion about a crime being committed in a situation where all the facts aren't known, yet when all the facts are known about his Maximum Leader Clinton, he concludes nothing illegal was done.
'the HOLE is, let's face, a lapdog for Clinton, McAuliffe, and Hitlery.
Yes Mr. Snotface, lets just conveniently forget aboutyour California buddy and fellow crook Grey Davis, the recipient of the largest single contribution from Enron of almost $1 million bucks!
Is this whole thing being done to take out Goron and to damage the Hilldebeast. Goron has no power base and no one to help him if Jino Joey LIEberman turns this over on Goron. Goron has an old TN friend with long TVA connections up to his keyster in Enron stuff.
If the Hildebeast gets tarnished on this, she will have to wait until 2008 or 2012 to run.
So if Jino Joey LIEberman can slice Goron up by "accident" and tarnish the Hilldebeast, he and Jonny McAinal can be the dynamic duo in 2004! They can be the Rat dream team.
Think about it. Davis willingly commited taxpayers/ratepayers money to that lunacy when even a typical three year old Californian would have said "no passo amigo".
Memo to little Tommy Boy: Why don't you and your friends, and Bill and Hillary, just save us the trouble? Go check in at the nearest Club Fed. Just don't pick up any soap. I'll bet you're not used to being on the "receiving" end.
Does he believe Global Crossing broke laws, too?
Then he said, "It was a snafu, it's old news, censure and move on."
BTW, it was one of Grey Davis' energy-buying minions who induced Enron to bid up the spot price of electricity in order to make themselves look better for having bought long term contracts at the top of the market.
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