Finally an Energy report worth writing about. Good for the one investment banking firm that seems to consider the merit of truthful reporting. Even as they report in their disclaimer they might be at a conflict of interest.
Read the report here… http://bit.ly/dCEqe6
This goes to the heart of our energy research for many years and the question becomes how did these energy trading divisions make these kind of gains as supply and demand factors didn’t seem to warrant the price action?
Bankers have no DAMN business in ENERGY other than to provide loans. Guess where all these FAT BONUSES ARE COMING FROM THEY ARE PAYING OUT TO EACH OTHER!!!!!!!
Why should we care? It’s hard to talk energy conservation and sound economics without having energy prices fall to lower levels as fuel costs suck both consumers and businesses dry. The only way this nation is going to lead a green sustainable future is to be sound economically. That doesn’t happen without reduced energy prices. There is no green sustainable development on the order that will be needed without loan protection. That loan protection doesn’t happen without a strong dollar and a strong bond. Everything is connected.
Who is attempting to drive prices all over the map and why? Could it be the energy trading divisions of the very same banks that provided the loans to Enron? It would be interesting to look at all 98 banks that provided loans to Enron just to see which ones now have energy trading divisions. We will list them all here.
Could they have learned their current energy trading practices from the old natural gas and electricity trading methods of Enron? Did the banks take stock in Enron as collateral for bad debts knowing they might get first shot at the energy assets that might help them one day have their own energy trading divisions? How is it that banks got into energy trading in the first place? When did this happen? Why? & How?
Congress is talking about demanding action for the very first time, see link here…
We have no conflict of interest. We simply wish to get to the bottom of the who, what, when and why of it. Maybe one day it will be possible to build clean energy projects if we find the answers. If we do, we will not be taking one DAMN DIME from any of these banks that have energy trading divisions and that you can take to the BANK. Better yet take it to your credit union, or community bank. Regional or International if you must.
May 5th
Excellent observations by Peter..
Will be adding his link soon.
