Sunday, May 23, 2010

ENRON Redux.... But This One Is On Steroids.

ENRON: Assetless Shell, A miniature version of the future Commonwealth of Pennsylvania

Enron was a big deal. $60 billion in shareholder theft, $2.1 in pension theft. 5,600 Enron people unemployed. Enron top brass helped put 85,000 Arthur Anderson employees out of work globally.

But for all their evil deeds Enron was a blip on the screen compared to what is in store for the commonwealth of Pennsylvania. The drillers are playing with tens of trillions and destroying the environment with permanent, unremediated pollution. i.e. One gas driller in PA has leased about 700,000 acres of PA public lands from the state. (I'll be damned if I can get a straight dollar figure on those leases.)

Then the driller turned around and 'sold' rights to those acres to China and other cash heavy wannabe gas players for about $30,000 per acre. That's 21,000,000,000 (twenty-one trillion dollars) for just one company and there are over a dozen drillers in PA. That's a lot of money for PA residents and government agencies to fight against in court. That's Pentagon funding for 40 years.

The money in this deal is mind boggling.

And with that kind of money at stake, there is not one person who is too important to destroy. The predators will not stop unless there is an overwhelming force of individuals across the state that stand-up and lean hard on politicians at every level of government.

The environmental devastion for states sitting on shale gas deposits is going to be the biggest environmental disaster in history.

The Enron/Arthur Anderson thing was pocket money compared to the crime being perpetuated against the state of Pennsylvania.

Who gets screwed?

  • Residential property owners.
  • Commercial property owners.
  • Millions of businesses.
  • Millions of residents.

What or who can survive without an adequate supply of clean drinking water?