Changes

Enron executives believed that a cap-and-trade program would put them in a position to dominate the U.S. energy market. Electric utilities, required to reduce emissions of carbon dioxide, would be forced to switch from coal to natural gas as the only practical alternative to electricity production. As a leading trader of natural gas, Enron would be the recipient of a huge financial windfall.

Enron executives believed that a cap-and-trade program would put them in a position to dominate the U.S. energy market. Electric utilities, required to reduce emissions of carbon dioxide, would be forced to switch from coal to natural gas as the only practical alternative to electricity production. As a leading trader of natural gas, Enron would be the recipient of a huge financial windfall.

While [[Barack Obama]] served as a board member for the Chicago-based Joyce Foundation, it gave nearly $1.1 million to start the Chicago Climate Exchange, calling itself "North America's only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide."<ref>[http://www.foxnews.com/politics/2009/03/25/obama-years-ago-helped-fund-carbon-program-pushing-congress/ Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress,] By Ed Barnes, March 25, 2009. FoxNews.com </ref> In 2010, the Chicago Climate Exchange collapsed. <ref>[http://www.foxnews.com/politics/2010/11/09/collapse-chicago-climate-exchange-means-strategy-shift-global-warming-curbs/ Collapse of Chicago Climate Exchange Means a Strategy Shift on Global Warming Curbs,] By Ed Barnes, November 09, 2010, FoxNews.com </ref> As many investors were wiped out, its founder sold out before hand for $90 million and [[Al Gore]], who was also associated by name with the company, pocketed $18 million.

While [[Barack Obama]] served as a board member for the Chicago-based Joyce Foundation, it gave nearly $1.1 million to start the Chicago Climate Exchange, calling itself "North America's only cap and trade system for all six greenhouse gases, with global affiliates and projects worldwide."<ref>[http://www.foxnews.com/politics/2009/03/25/obama-years-ago-helped-fund-carbon-program-pushing-congress/ Obama Years Ago Helped Fund Carbon Program He Is Now Pushing Through Congress,] By Ed Barnes, March 25, 2009. FoxNews.com</ref> In 2010, the Chicago Climate Exchange collapsed.<ref>[http://www.foxnews.com/politics/2010/11/09/collapse-chicago-climate-exchange-means-strategy-shift-global-warming-curbs/ Collapse of Chicago Climate Exchange Means a Strategy Shift on Global Warming Curbs,] By Ed Barnes, November 09, 2010, FoxNews.com</ref> As many investors were wiped out, its founder sold out before hand for $90 million and [[Al Gore]], who was also associated by name with the company, pocketed $18 million.

==Corruption and Demise==

==Corruption and Demise==

The name of the [[Houston Astros]]' baseball stadium, Enron Stadium, was changed to Minute Maid Field after the incident. Many documentaries, movies and books about the Enron Scandal have been created, one of the most notable is the movie, Fun with Dick and Jane, with a storyline loosely based around the scandal, even mentioning Enron in the credits.

The name of the [[Houston Astros]]' baseball stadium, Enron Stadium, was changed to Minute Maid Field after the incident. Many documentaries, movies and books about the Enron Scandal have been created, one of the most notable is the movie, Fun with Dick and Jane, with a storyline loosely based around the scandal, even mentioning Enron in the credits.

In 2011, [[First Lady]] [[Michelle Obama]] scheduled a fundraising event in the mansion of a former Enron executive and billionaire for [[Presidential Election 2012|President Obama's 2012 re-election]] asking for $10,000 per ticket to the event, or the “co-host level” contribution being $35,800.<ref>[http://www.humanevents.com/2011/10/28/obama-rakes-in-cash-from-lobbyists-enron-executives/ Obama Rakes In Cash From Lobbyists, Enron Executives,] John Hayward, ''Human Events'', 10/28/2011. </ref>

In 2011, [[First Lady]] [[Michelle Obama]] scheduled a fundraising event in the mansion of a former Enron executive and billionaire for [[Presidential Election 2012|President Obama's 2012 re-election]] asking for $10,000 per ticket to the event, or the “co-host level” contribution being $35,800.<ref>[http://www.humanevents.com/2011/10/28/obama-rakes-in-cash-from-lobbyists-enron-executives/ Obama Rakes In Cash From Lobbyists, Enron Executives,] John Hayward, ''Human Events'', 10/28/2011.</ref>

In May 2013, Skilling negotiated a deal for his earlier release from prision in exchange for dropping his appeals that have held up the distribution of $40 million to victims of the Enron collapse.<ref>{{cite news|url=http://dealbook.nytimes.com/2013/05/08/enrons-skilling-strikes-deal-for-shorter-sentence/|title=Enron’s Skilling Strikes Deal for Shorter Sentence|first=Michael|last=De la Merced|date=May 8, 2013|accessdate=May 14, 2013|work=New York Times}}</ref> If the judge approves the deal, Skilling may be released in 2017.

In May 2013, Skilling negotiated a deal for his earlier release from prison in exchange for dropping his appeals that have held up the distribution of $40 million to victims of the Enron collapse.<ref>{{cite news|url=http://dealbook.nytimes.com/2013/05/08/enrons-skilling-strikes-deal-for-shorter-sentence/|title=Enron’s Skilling Strikes Deal for Shorter Sentence|first=Michael|last=De la Merced|date=May 8, 2013|accessdate=May 14, 2013|work=New York Times}}</ref> If the judge approves the deal, Skilling may be released in 2017.

==References==

==References==

[[Category:Clinton Administration]]

[[Category:Clinton Administration]]

[[Category:corporations]]

[[Category:Corporations]]