Dr. Rob Bradley, CEO of the Institute for Energy Research, documents in Political Capitalism how fraud and corruption at Enron were the inevitable consequence of a business strategy emphasizing the political pursuit of market-rigging regulations as a strategy to reap windfall profits and grow market share.
Enron, for example, was a key lobbyist for the Kyoto Protocol, a treaty calculated to increase demand for Enron’s services as a natural gas distributor, renewable energy seller, and cap-and-trade broker.
Today at MasterResource, the free-market energy blog, Bradley reveals that Enron also spearheaded the push for renewable energy mandates that made Texas the leading windpower state in the country.
Bradley worked at Enron for 16 years and frequently clashed with senior management over its infatuation with get-rich-quick green energy schemes. “Oh how sad I am that Enron purchased Zond [Corporation, a struggling wind energy company] and did so much to enable the artificial windpower boom in Texas and United States,” he writes.