Enron, Bill Richardson, and $882 million dollars in Nigerian power contracts

various websites | 1/12/02 | dead

[dead]

Between 1992 and 1999, the Democratic Party received hundreds of thousands of dollars from the Enron Corporation and its officers. Their generosity was not ignored.

To help push through energy initiatives in Africa, Clinton’s Energy Secretary (and Monica Lewinsky’s job counselor), Bill Richardson, visited Nigeria in August 1999.

“As a result of Secretary Richardson's visit to Nigeria in August, we have embarked on a bilateral cooperation program. The Department is developing an action plan with the Government of Nigeria, which will be coordinated with USAID. Cooperation could include: restructuring and privatization; rural electrification; deployment of clean energy and renewable energy technologies; promotion of energy efficiency; and development of an independent regulatory authority.”

This initiative, coordinated by Richardson, led to $882 million dollars in power contracts for Enron from the government of Nigeria:

“Enron, an oil and gas firm in Houston, has signed a power purchase agreement to supply emergency electricity to state-owned power utility Nigerian Electric Power Authority (NEPA) through 30MW power barges located on the coast of Lagos State. Enron and its Nigerian joint venture partner signed the $82 million deal with NEPA and the power ministry in the capital Abuja. Enron and the Lagos state government entered a joint venture earlier in 1999 to build an $800 million gas-powered plant with capacity for 540 Megawatt (MW) to augment supply to the city.

Unfortunately for Enron, the Nigerian Government cancelled these contracts in April 2000. As a further reward for their generosity to the Democratic Party, Clinton Administration Special Envoy Thomas Pickering hustled off to Nigeria (on the taxpayer’s dime) to plead Enron’s case.

“Picking who spoke at a news conference after his meeting with President Olusegun Obasanjo, said the American government has been following the fortunes of the two companies, ENRON and Babcolk $Wilcox both of which are operating in the energy sector, with keen interest.

Pickering stated that the American government was obviously convinced that the contracts awarded to the two companies which were later cancelled by the Federal Government were negotiated in good faith.

He said that he discussed the issue of the contract's cancellation with the President and hoped that the issues would receive fair and direct treatment from the government with a view of being reviewed.”

I guess Pickering pulled it off. The power producing barges went on line in June, 2001, providing Enron with a significant return on their investment with the DNC.

[Freedom'sWorthIt]

Now you are getting there....give em hell, dead!

[steve50]

Nothing like a little threat of problems with foreign aid and IMF loans to help persuade a relunctant business partner.

[NRA2BFree]

Thanks for posting this. Richardson just made it official that he's running for governor in the state of NM.

[noexcuses]

I'll send Waxman another "tip" where to look. Thanks for your research!!

[Churchillspirit]

Thanks for posting info we are unlikely to hear from the media.

[Eric in the Ozarks]

Understand the US Senate is sending out subpeonas today. Maybe a few prominent Dems will be included.

[scooby321]

Sounds Good

[backhoe]

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[Howlin]

Lookie here!

[Howlin]

You did it again, d.

[RedBloodedAmerican]

Unreal. This is going to backfire on the Dems and uncover a Clinton scandal that they wanted hidden. I think it is my turn to get the popcorn. You wait here, be right back.....

[bray]

I am sure the Stalinists at PravdABC will be reporting this immediately!!!

Pray for GW and the Truth

[My2Cents]

Point of clarification: The headline says it was an $882 million contract; the link to the testimony of the Asst. Secretary of Energy identifies the Enron contract as $82 million.

I know: a million here, a million there, and pretty soon we're talking real money, but for the sake of accuracy, isn't it actually $82 million, not $882m.?

[dead]

Enron and its Nigerian joint venture partner signed the $82 million deal with NEPA and the power ministry in the capital Abuja. Enron and the Lagos state government entered a joint venture earlier in 1999 to build an $800 million gas-powered plant with capacity for 540 Megawatt (MW) to augment supply to the city.

$82 million for the barges, plus $800 million for the plant, equals $882 million.

[deport]

Two contracts..... one for $82 mill for emergency power and one for $800 mill for power plants.... equal $882 mill.

But as you say a mill here and a mill there.....

[N. Theknow]

I think it's more like $82 million, cause I keep getting emails wanting my help in getting the money out of Nigeria, hee hee.

[My2Cents]

Silly me...should have read the entire sentence. Thanks.

[dead]

Thanks! I can't stand Richardson.

[dead]

Enjoy!