Free Republic

Not What They Supposed The terror connection missed by the Clintonistas. by Stephen F. Hayes Four months after the start of the Iraq war, two former senior Clinton administration national security officials took to the pages of the New York Times to demand accountability for the Bush administration's claims about Iraq and terrorism. Or, as they put it in their opening sentence, "Iraq's supposed links to terrorists." Daniel Benjamin and Steven Simon wrote that the Bush administration's assertions about Iraqi support for terrorism were "suspect" and demanded scrutiny. One sure way to know the truth about Iraq and terrorism, they...

Intermountain Power Plant Expansion Threatens Tourist "Views," Not Health - Serves Burbank, Glendale, Pasadena Preface: A proposal to extend the energy contracts for Burbank, Glendale, and Pasadena from 2025 to 2050 to accommodate expansion of the Intermountain Power Plant in Delta, Utah for a third coal-fired module has met with stiff resistance by the National Resources Defence Coucil (NRDC), the Sierra Club and other environmental organizations who have cited this as a "moral cause." The power plant's 710 foot stack, which is a technological marvel, removes 99.75 percent of all the particulates that would have gone into the atmosphere in...

HOUSTON (Reuters) - Electricity producer Mirant Corp. (Other OTC:MIRKQ.PK - News) said on Tuesday that it had emerged from bankruptcy protection after two-and-a-half years and secured $2.35 billion in financing. The Atlanta-based company, which converted more than $6 billion of debt and liabilities into equity under its reorganization, had filed for Chapter 11 bankruptcy protection in July 2003 after failing to reach a deal with creditors to restructure its debts. Last month, power producer Calpine Corp. (Other OTC:CPNLQ.PK - News), filed for Chapter 11 bankruptcy protection, listing debts of $22.5 billion against $26.6 billion in assets. Mirant, which owns or...

SAN FRANCISCO (MarketWatch) - Merchant power company Calpine Corp. unveiled Wednesday an ambitious plan to knock $3 billion from its heavy debt load by the end of the year, one year sooner than earlier targeted. The plan, which aims to lower the company's annual interest payments by $275 million and trim $200 million from its annual operating costs, also includes selling up to eight power plants and shuttering others that are not turning a profit. Shares of the San Jose, Calif.-based electricity provider surged 53 cents, or 27%, on the news to $2.51. Calpine (CPN: news, chart, profile) , struggling...

Excerpt... Second, Avista and Mirant Corp., co-owners of the Coyote Springs 2 gas- fired generating facility, have signed a non-binding letter of intent for Avista to purchase Mirant's half interest in the facility. If the transaction is successful, Avista will own the entire facility and an additional 140 megawatts of generating capacity to serve its customers' future energy needs. "Our decision to seek to acquire full ownership of the plant is driven by a potentially attractive price, together with Avista's familiarity and experience with the facility," said Ely. "These factors outweigh other considerations such as the concentration of more energy...

'Last piece of puzzle' secures finance packageReliant Resources and its bankers agreed Monday to a $6.2 billion financing package that should put to rest any bankruptcy fears surrounding the Houston power company. Mark Jacobs, Reliant's chief financial officer, called the package -- the vast majority which doesn't come due until 2007 -- a landmark transaction. "This is really the last step that we needed to take here to stabilize our capital structure," Jacobs said in an interview. "This is really the last piece of the puzzle." The company announced the package around 10 p.m. Monday. Last year, the main power...