Posted on 01/31/2006 7:59:31 PM PST by Racehorse
The down fall of Enron began with Enron selling India gas powered electric plants, when India did not have any natural gas of it's own, but had plenty of coal. Clinton vouched for Enron and helped sell the deal. Then a different party took control in India and refused to honor the contracts with Enron. (This may not be exactly the facts, but it's close)
Anyway when the deal between Enron and India fell through, the company started the downward spiral. It looks as though India never converted those plants to coal, though.
India, like the rest of the world, doesn't want a nuclear Iran. They won't be any safer than we will be. It's tough when they blackmail you for oil, knowing how dependent we all are on it. THAT is why the mad man who is now their president needs to go the way Mohammad went, and pronto.
The case is not exactly as you've said (and you've mentioned that), it has got something to do with the disagreements on the cost of power produced by that plant. The case is still pending, IIRC. And the plant has been moth-balled all this time, as per court-order.
Enron plant poised for comeback
http://news.bbc.co.uk/1/hi/business/2839257.stm
Dabhol: To reopen at last?
India's mothballed $2.9bn Dabhol power plant, built by energy giant Enron, may be reopened in a joint Anglo-Indian venture.
Tata, India's leading industrial group, has signed an outline agreement with UK-based energy firm BP over evaluating the revival of the plant.
"The two will engage with the Dabhol stakeholders and other decision makers to structure an economically viable solution for the project," Tata said.
The statement added: "Tata and BP have a longstanding relationship arising from prior joint ventures in solar and lubricants, which has also been a factor in the decision to jointly explore the potential of the Dabhol project."
The two firms last year separately submitted bids, which were cancelled as the legal problems mounted over the sale of the site.
Legal wrangles
The 2,184-megawatt plant has been shut for more 20 months, when it was closed over a payment dispute with the Maharashtra State Electricity Board, its only customer.
The bankruptcy of Enron has compounded the site's problems, with Indian financial institutions opening legal battles to recover 60bn rupees lent to pay for the plant's construction.
Enron still owns 65% of the plant, with Bechtel and GEC holding 10%, and MSEB having a 15% stake.
Last month Robert Blackwill, US ambassador to India, said that a speedy solution to the Dabhol problem would act as a stimulus to US investment in India.
"Iran is six months away from making a nuclear weapon. The situation is the same in Saudi Arabia which has a traditional leaning towards Pakistan. The Saudi royal family is guarded by 10,000 Pakistani troops. Once Iran goes nuclear, what is to stop them from arming Nepal, LTTE, Mynammar and Bangladesh? These nations are run by monarchies or autocracies? They do not possess a democratic structure as says is prevailing in the UK or for that matter in India. There are no checks-and-balances prevailing in these nations and even less in Central Asia. Who will then stop our neighbours from trying to nuke us? There is no point in living in an ivory tower as is being done by our analysts." - LINK
This also frightens the Chinese and the Russians...
As another FReeper pointed out earlier today, however, all it really means is that somebody's gonna start gunning for the whackadoodles, and the troubles with Iran will go away. No sense in killing more people than you need to.
No kidding.
Does anyone know if other countries have a Strategic Petroleum Reserve like we do?
Was it you that did all that research on Enron and India, back in the Clinton days?
must be somebody else.
There was a poster who did an amazing amount of research on Enron and the gas fired power plants that Enron was building for Enron, and how Clinton and his commerce sect'y helped sell India on the idea.
Fascinating (and realistic) analysis...thanks for the ping.
This will interest you more.
http://o3.indiatimes.com/bhartiyas/archive/2006/01/29/440019.aspx
Skip over the obscenities, and you'll see what a lot of Indians feel about Iran- they have no love lost for them. The decision India takes vis-a-vis Iran will be based on strategic interests, not "people's love". For that matter, the US has excellent relations with Saudi Arabia and Pakistan- two nations whose people hate Americans overwhelmingly, but whose government is allied to the US.
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