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Politics : Al Gore vs George Bush: the moderate's perspective -- Ignore unavailable to you. Want to Upgrade?

To: American Spirit who wrote (2347)	10/13/2000 1:31:06 PM
From: long-gone	Read Replies (1) \| Respond to of 10042

<<outrageous low-collateral loans, >> Many weren't low collateral loan until businesses went broke - ever hear of the oil problems in Texas? I lived there, the value of my parents home went from 50k to 180k & back to 60k in 5 years. When real estate values change quickly value of collateral drops RFN. Then when people lose good paying oil field jobs they also lose their homes. Big difference between that & the pure theft in the dept of education under Gore / Clinton

To: American Spirit who wrote (2347)	10/13/2000 2:54:02 PM
From: long-gone	Respond to of 10042

Clinton-Gore Administration Awards Oil Deals to Tiny, Inexperienced Firms By Jim Burns CNS Senior Staff Writer October 10, 2000 (CNSNews.com) - The bidding procedures at the U.S. Department of Energy are being questioned after contracts for more than 10 million barrels of crude oil from the Strategic Petroleum Reserve were awarded to three tiny oil companies that insiders say have little or no experience in making oil deals. On Capitol Hill, the Senate Energy and Natural Resources Committee is monitoring the controversy. "We've been following this very closely. The next thing that happens is that these guys have to deliver letters of credit and if that doesn't happen, they will not get the contracts. They (Department of Energy) will have to re-bid the contracts," said a committee spokesperson. In announcing the contracts, the Department of Energy agreed to hand over 30 million barrels of crude oil from the Strategic Petroleum Reserve to 11 companies that had submitted bids. In exchange, according to DOE officials, the 11 firms will return more than 31.5 million barrels to the federal oil stockpile next year. A Department of Energy spokesperson, who didn't want to be identified said, "We picked the companies that offered the best bids based on quality and quantity." However, the Energy and Natural Resources Committee spokesman, "this is turning very political." Some oil traders and analysts, according to Platt's Oilgram News, say they have never heard of three of the companies receiving the oil reserves: Euell Energy Resources of Aurora, Colorado; Burhany Energy Enterprises of Tallahassee, Florida; and Lance Stroud Enterprises of New York. All three companies are minority owned. Black Enterprise magazine listed Euell as among its top 100 Black-owned businesses in the United States in 1980-81. Platt's Oilgram News Editor Beth Evans said in a statement, "It's very surprising when you see companies that have never done an oil deal suddenly grab a third of the oil being released." According to the DOE spokesperson, "By the close of business on Thursday, we anticipate moving the largest SPR (Strategic Petroleum Reserve) exchange ever." Neither Lance Stroud Enterprises of New York nor Burhany Energy Enterprises in Tallahassee could be reached for comment. However, Stroud is reportedly his firm's only employee and Burhany Energy Enterprises reportedly lists as its only employee, Ronald Peek. Euell Energy Resources, according to its website, is "an integrated energy services and construction company with operations that include natural gas and power marketing, construction and pipeline and cable installation." Among Euell's projects, according to its website are a "rapid transit system foundation for subway trains which are scheduled to begin running in 2001." Another project is a "High Pressure Water System" in Northern California. The company says "installing this high pressure system entailed overcoming not only difficult work conditions through the Sierra Mountains, but also required that eight miles of road be built alongside the 14.2 mile pipeline." The company says it assisted in the construction of the Alaska pipeline, which extended from Canada to North America, and according to the web site, "Euell Energy Resources has extensive experience in federal procurement and federal contracts since 1970." Among those the company commends for helping make Euell, "the successful company we are today," are the Reverend Jesse Jackson, the late U.S. Representative Mickey Leland, former U.S. Senator and Republican Presidential candidate Bob Dole and former U.S. Interior Secretary Cecil Andrus. Neither Jackson nor Dole could be reached for further comment. In announcing the oil exchange contracts, Secretary of Energy Bill Richardson said, "These companies offered the best value in terms of restocking the Strategic Reserve a year from now. Every barrel we can get into the market in the next few weeks reduces the risk of a shortage of heating oil and diesel fuel this winter. This is good for consumers and good for our nation's long-term energy security." cnsnews.com\\Politics\\archive\\200010\\POL20001010b.html