Saturday, October 29, 2005

Question #1 For The BC Utilities Commission

Answer This, Please

In it's infinite wisdom the British Columbia Utilities Commission has decided AGAINST holding public hearings into the sale of Terasen (formerly B.C.) Gas lock, stock and barrel to American pipeline giant Kinder Morgan.

As a result, British Columbians who have concerns about this deal, particularly as they pertain to the public interest, have lost their chance to have their questions answered in an an honest and unbiased manner (ie. free of P.R. and spin).

I am one of those British Columbians and I have decided that I will not be silenced.

Thus, here is my first question.

Given the fact that Kinder Morgan was originally known as Enron Liquids Pipeline, L.P., and given that it became Kinder Morgan Energy Partners L.P. when all of it's stock was purchased by Robert Kinder (former president of Enron Corp.) and Bill Morgan (former Enron corp. pipline executive; see footnote #1 below), can the BC Utilities Commission please explain what specific rules, regulations, controls, potential penalties and/or protocols, if any, have been put into place to ensure that British Columbians will not be subjected to energy market manipulations such as those that were previously practiced by Enron traders in California (see footnote #2)?

Thank you very much.

footnote #1
Kinder Morgan Energy Partners, L.P. was formed as Enron Liquids Pipeline, L.P. in August of 1992 by Enron Corp. The company was taken public as a Master Limited Partnership (MLP) on the New York Stock Exchange under the "ENP" ticker, which has since been changed to "KMP."

The principal assets at the time KMP was formed included natural gas liquids (NGL) pipelines, a CO2 pipeline, a rail-to-barge coal terminal and an interest in a NGL fractionation facility. On Feb. 14, 1997, Richard D. Kinder (the former president of Enron Corp.) and Bill Morgan (a former Enron Corp. pipeline executive) jointly acquired all of the stock of Enron Liquids Pipeline Company, the General Partner of the MLP.

footnote #2

During California's rolling blackouts, when streets were lit only by head lights and families were trapped in elevators, Enron Energy traders laughed, reports CBS News Correspondent Vince Gonzales.

One trader is heard on tapes obtained by CBS News saying, "Just cut 'em off. They're so f----d. They should just bring back f-----g horses and carriages, f-----g lamps, f-----g kerosene lamps."

And when describing his reaction when a business owner complained about high energy prices, another trader is heard on tape saying, "I just looked at him. I said, 'Move.' (laughter) The guy was like horrified. I go, 'Look, don't take it the wrong way. Move. It isn't getting fixed anytime soon."


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