-Caveat Lector-
Feds Award Oil Deals to Tiny, Inexperienced Firms
CNSNews.com
Wednesday, Oct. 11, 2000
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 rebid the contracts," said a
committee spokesman.
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 spokesman, 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
said, "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, Colo.; Burhany
Energy Enterprises of Tallahassee, Fla.; 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 spokesman, "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 only one employee, Ronald Peek.
Euell Energy Resources, according to its Web site, 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 Web site 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, 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 Rev. Jesse Jackson, the
late U.S. Rep. Mickey Leland, former Sen. 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."
Copyright CNSNews.com
=================================================================
Kadosh, Kadosh, Kadosh, YHVH, TZEVAOT
FROM THE DESK OF: <[EMAIL PROTECTED]>
*Mike Spitzer* <[EMAIL PROTECTED]>
~~~~~~~~ <[EMAIL PROTECTED]>
The Best Way To Destroy Enemies Is To Change Them To Friends
Shalom, A Salaam Aleikum, and to all, A Good Day.
=================================================================
<A HREF="http://www.ctrl.org/">www.ctrl.org</A>
DECLARATION & DISCLAIMER
==========
CTRL is a discussion & informational exchange list. Proselytizing propagandic
screeds are unwelcomed. Substance�not soap-boxing�please! These are
sordid matters and 'conspiracy theory'�with its many half-truths, mis-
directions and outright frauds�is used politically by different groups with
major and minor effects spread throughout the spectrum of time and thought.
That being said, CTRLgives no endorsement to the validity of posts, and
always suggests to readers; be wary of what you read. CTRL gives no
credence to Holocaust denial and nazi's need not apply.
Let us please be civil and as always, Caveat Lector.
========================================================================
Archives Available at:
http://peach.ease.lsoft.com/archives/ctrl.html
<A HREF="http://peach.ease.lsoft.com/archives/ctrl.html">Archives of
[EMAIL PROTECTED]</A>
http:[EMAIL PROTECTED]/
<A HREF="http:[EMAIL PROTECTED]/">ctrl</A>
========================================================================
To subscribe to Conspiracy Theory Research List[CTRL] send email:
SUBSCRIBE CTRL [to:] [EMAIL PROTECTED]
To UNsubscribe to Conspiracy Theory Research List[CTRL] send email:
SIGNOFF CTRL [to:] [EMAIL PROTECTED]
Om
