• The Enron scandal : water in the gas

  • Sep 25 2024
  • Length: 5 mins
  • Podcast

The Enron scandal : water in the gas

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  • Summary

  • An American company specializing in the production and transportation of gas, Enron, was founded in 1985 by Kenneth Lay, a former member of the Reagan administration and friend to Republican Party heavyweights like Bush, father and son. In the 1990s, deregulation of the energy market led Enron to become an energy broker. The company offered complex financial products to its clients, and it was a period of intense trading. Carried away in its momentum, the firm expanded into raw materials and telecommunication by selling bandwidth for example. Between 1995 and 2000, its turnover increased from 10 to 100 billion dollars !
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