They should have done what US oil companies had done in the past, give the world cheap oil. By making oil so cheap that alternative resources could not compete. We are now developing alternative resources, but at the cost of masses of people who can't afford it.
They went as far as telling the world that China was consuming more oil because of private car sales increased. LOL, I would like to know how a Chinese worker making .10 USD and hour can afford a $20,000 car and be able to feed that machine expensive petrol. People fell for it though. OPEC has since then cut production. Why? The world is using more fuel efficient vehicles. Oil companies shot themselves in the foot.
Corporations learned alot from Enron. Create your own demand to raise prices. In north America, natural gas companies claimed a shortage as well to raise prices. But they had a report release to the public 3 yrs prior indicating sufficient supply at current population growth for the next 50yrs. Then oil companies did the same thing. Saying that they couldn't pump it out the ground fast enough.
USA'a economy is just like ENRON. The rest of the world is the gullible investor who believes in the value of the dollar. The question is - "when exactly the shit will hit the fan"? The first symptoms already are showing up. It happened in the past - it will happen again.
Most of the business regulation came into being as a reaction to the business crimes of the Great Depression for very good reasons. With Reaganomics and deregulation came evil such as the S&L crisis, the market collapse of the eighties and...ENRON.
Then how do you believe we should handle this problem...should we return to Keynesian Economics of Mixed Economy with state regulations, because obviously this Friedman Economics is causing huge corporate frauds like Enron...however does central planning take away the common person's right to free enterprise, and entrepreneurship...the ability of markets to be free..this is a great dilemma of our age in modern economics..and as we begin this new century what will be the ideal theory...?
Reaganomics is the problem. We have laws to protect us again thieves and murderers. Law to watch over large corporations were instituted after the Great Depression when millions lost their life savings and tens of thousand died from illness and lack of food and shelter. Business without regulation is like leaving the bank deposits on the lobby floor and the vault open. WISE regulation may protect the people and NOT inhibit honest businessmen. I think punitive and confiscatory laws help.
They should have done what US oil companies had done in the past, give the world cheap oil. By making oil so cheap that alternative resources could not compete. We are now developing alternative resources, but at the cost of masses of people who can't afford it.
dw90242 2 years ago
They went as far as telling the world that China was consuming more oil because of private car sales increased. LOL, I would like to know how a Chinese worker making .10 USD and hour can afford a $20,000 car and be able to feed that machine expensive petrol. People fell for it though. OPEC has since then cut production. Why? The world is using more fuel efficient vehicles. Oil companies shot themselves in the foot.
dw90242 2 years ago
Corporations learned alot from Enron. Create your own demand to raise prices. In north America, natural gas companies claimed a shortage as well to raise prices. But they had a report release to the public 3 yrs prior indicating sufficient supply at current population growth for the next 50yrs. Then oil companies did the same thing. Saying that they couldn't pump it out the ground fast enough.
dw90242 2 years ago
this is not an isolated incident. It is a chain reaction but in a slower way.
tigerlee1106 2 years ago
what was the sham of enron thad led to its bankruption?
obilinx1 2 years ago
USA'a economy is just like ENRON. The rest of the world is the gullible investor who believes in the value of the dollar. The question is - "when exactly the shit will hit the fan"? The first symptoms already are showing up. It happened in the past - it will happen again.
Kinkoyaburi 4 years ago 2
The crisis of the 21 century, America can fall like Rome.
Deepstarr7020 3 years ago 2
Most of the business regulation came into being as a reaction to the business crimes of the Great Depression for very good reasons. With Reaganomics and deregulation came evil such as the S&L crisis, the market collapse of the eighties and...ENRON.
exenrontexas 4 years ago
I had a boss that said if its not illegle than there is nothing wrong with it. The problem is that corporations are making the laws.
70road 4 years ago
Then how do you believe we should handle this problem...should we return to Keynesian Economics of Mixed Economy with state regulations, because obviously this Friedman Economics is causing huge corporate frauds like Enron...however does central planning take away the common person's right to free enterprise, and entrepreneurship...the ability of markets to be free..this is a great dilemma of our age in modern economics..and as we begin this new century what will be the ideal theory...?
Abreu51 4 years ago
Reaganomics is the problem. We have laws to protect us again thieves and murderers. Law to watch over large corporations were instituted after the Great Depression when millions lost their life savings and tens of thousand died from illness and lack of food and shelter. Business without regulation is like leaving the bank deposits on the lobby floor and the vault open. WISE regulation may protect the people and NOT inhibit honest businessmen. I think punitive and confiscatory laws help.
exenrontexas 4 years ago