Comment

Comment by Barbara Durkin on April 6, 2016 at 11:17am

Eric writes-

Sun Edison's Market Spike looks very similar, Same Crooks ? Same Business Model ? Same Results ?

That it does, Eric!

Comment by Barbara Durkin on April 6, 2016 at 11:06am

Patrick Wood III Director of Xtreme Power

A Kyle, Texas company that makes utility scale power storage systems, Xtreme Power, nabbed a $29.5 million, series C round of venture funding the company announced today. The investment was co-led by Bessemer Venture Partners, the venture capital arm of The Dow Chemical Company and clean tech investors SAIL Venture Partners >Ian Bowles

http://www.sec.gov/litigation/litreleases/2011/lr21832.htm

AUSTIN, Texas and SEOUL, South Korea, Feb. 19, 2013 /PRNewswire/ -- Samsung SDI, an affiliate of Samsung Group, and Xtreme Power, a privately held Austin, TX company, today announced that they have been selected by the Center for the Commercialization of Electric Technologies (CCET) to install a 1MW/1MWh Lithium Ion based Battery Energy Storage System (BESS) system at the Reese Technology Center in Lubbock, Texas as part of a Smart Grid Demonstration Project (SGDP). The $27 million demonstration project jointly funded by CCET partners and the US Department of Energy as part of the American Recovery and Reinvestment Act (ARRA) of 2009 managed by CCET. The SGDP is known as Discovery Across Texas, Technology Solutions for Wind Integration in ERCOT.  BESS will be owned and operated by South Plains Electric Cooperative (SPEC) as one of several project technologies to serve the SGDP objectives of wind integration.

Xtreme files for Bankruptcy protection-

Sail Capital

With $100 Million+ Pipeline, Xtreme Power Seeks Strategic Acquisiti... - 02/01/14

http://www.sailcapital.com/portfolio-energy/xtreme-power-solutions-inc

 

A US company backed by investors SAIL Capital Partners, Xtreme Battery, asks for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Texas. 

(Ian Bowles portfolio is Sail Capital)

Xtreme Battery is part of the portfolio of SAIL Capital Partners LLC, with founder and Managing Partner Walter L. Schindler.  According to Sail Capital, the company was “chosen by the U.S. Department of Commerce to co-lead with Deutsche Bank the U.S. Trade Mission on Clean Energy to Germany and to participate in the first Impact & Sustainable Trade Mission to Europe with investor meetings in Zurich, Amsterdam, and London”.

Friday, January 24, 2014

Company Behind Kahuku Windfarm Fire Files Bankruptcy By News Release @ 11:53 PM :: 319 Views :: Energy, Tax Credits   Xtreme Power Seeks Strategic Sale Through Chapter 11 News Release from Xtreme Power KYLE, Texas, Jan. 23, 2014  -- Xtreme Power, a world-class leader in integrated power management systems and energy storage solutions, announced today that it filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Western District of Texas. The Chapter 11 filing will enable the company to continue its operations at all locations as it begins a process to identify an acquirer. The company's core engineering, project development and operations staff will remain in place during this process. Alan Gotcher, Xtreme Power CEO, said that the company's general creditors will provide the necessary financing, including DIP financing, to enable the search for an appropriate acquirer to proceed. He also said that the Chapter 11 filing was structured to allow one of the company's creditors to file a stalking horse bid for the company in the event that alternative bids during the Chapter 11 process prove to be insufficient. The company is seeking a superior stalking horse bid by February 28th, with a subsequent bankruptcy auction. "We are very pleased," said Gotcher, "with the steps taken by our general creditors that are supporting our Chapter 11 process and ultimate sale of the company. With our industry-leading expertise, our world-class partnerships with other leading companies including GE Energy Storage, Samsung SDI and Duke Energy, I have no doubt new owners will find Xtreme Power an attractive acquisition, particularly given that we will be free and clear of liabilities." Xtreme Power retained Gordian Group LLC to assist in the sale of the company. The move comes as interest in Xtreme Power continues to grow. Gotcher said that he predicts a speedy timeline for finding a new owner. Gordian Group LLC is one of the nation's leading independent investment banks specializing in complex and/or distressed financial advisory and mergers and acquisitions work. Gordian will work with Xtreme Power to help manage the sale process. Interested parties are encouraged to expeditiously submit bids through the Gordian Group ahead of the late February deadline. Gotcher said that the company's strong pipeline should be very attractive to potential buyers. "With the pipeline in excess of$100 million and letters of intent for $65 million, we have a solid base of new business. We also expect EBITA--earnings before interest, taxes, depreciation and amortization--to be at break-even by later this year with significant upside potential to both EBITA and revenue. "I believe we're a great company poised for a bright future of renewable energy generation, storage and transmission, " Gotcher added. With 12 projects in the field accounting for 60 MW of grid-scale installations, ranging from 1MW up to 36 MW, Xtreme Power's operational experience includes more than 34,100 MWh charged and discharged over 472,200 hours of integrated power unit operation. The grid-scale energy storage market is poised for significant growth in the next five years. Xtreme Power has already built the largest energy storage system of its kind for Duke Energy's Notrees wind energy farm in Texas, and has operations spanning from the Hawaiian Islands to the South Pole. Interested bidders should contact Gordian Group LLC, care of Matthew Jacobs at (212) 486-3600 ext 114 or mj@gordiangroup.com--www.gordiangroup.com for more information. ---30--- About Xtreme Power Xtreme Power provides scalable, real-time power management and energy storage solutions that enable a more sustainable, reliable, and cost effective electric grid. Xtreme Power's systems combine real time controls and intelligent power conversion systems with efficient energy storage technology engineered specifically to the needs of its customers. Xtreme Power enables multiple participants and technologies to simultaneously operate on the electric grid providing new flexibility that has never been possible before. Xtreme Power is a US company backed by investors SAIL Capital Partners, Bessemer Venture Partners, The Dow Chemical Company, Fluor Corp., BP Alternative Energy, Dominion Resources, POSCO ICT, Skylake & Co. and Spring Ventures, LLC. A 2012 Bloomberg New Energy Pioneer, Xtreme Power earned the 15th spot on Inc. Magazine's 500|5000 list of the fast growing private companies in the U.S. in 2012 – the company's second year in a row making the list. For more information, please visit http://www.xtremepower.com.   *   *   *   *   * BACKGROUND: Xtreme Power: A Pig-in-a-poke For Hawaii Wind Farm Predictable Result: Lloyds of London Lawsuit Reveals Story Behind Kahuku Windfarm Fires First Wind Proves it has learned nothing: Playing with Fire: Kahuku Windfarm to Install Molten Magnesium Batt...   http://www.hawaiifreepress.com/ArticlesMain/tabid/56/ID/11723/Company-Behind-Kahuku-Windfarm-Fire-Files-Bankruptcy.aspx?utm_source=January+26%2C+2014+News+from+Hawaii+Free+Press&utm_campaign=January+26%2C+2014+Email&utm_medium=email

Comment by Barbara Durkin on April 6, 2016 at 10:58am

Patrick Wood III Director of SunPower

Obama’s ‘Green’ Energy Failures

October 19, 2012

By ASHE SCHOW | THE FOUNDRY | OCTOBER 19, 2012

It is no secret that President Obama’s and green-energy supporters’ (from both parties) foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order to make it seem like a rare case.

The complete list of faltering or bankrupt green-energy companies includes

SunPower ($1.5 billion)

Range Fuels ($80 million)*: (cut)

http://realagenda.wordpress.com/tag/range-fuels/

'SunPower: Twice As Bad As Solyndra, Twice As Bad For Obama'

Congressman's son lobbied for failing solar panel company

by Neil W. McCabe

10/11/2011

 

How did a failing California solar company, buffeted by short sellers and shareholder lawsuits, receive a $1.2 billion federal loan guarantee for a photovoltaic electricity ranch project—three weeks after it announced it was building new manufacturing plant in Mexicali, Mexico, to build the panels for the project.
 
The company, SunPower (SPWR-NASDAQ), now carries $820 million in debt, an amount $20 million greater than its market capitalization.  If SunPower was a bank, the feds would shut it down.  Instead, it received a lifeline twice the size of the money sent down the Solyndra drain

 

Comment by Barbara Durkin on April 6, 2016 at 10:53am

Patrick Wood III is Director of Quanta Services Inc.

QUANTA SERVICES

SEC asks Quanta Services to preserve FCPA-related documents

By Julie DiMauro | Monday, May 12, 2014 at 6:28AM

The Securities and Exchange Commission asked Quanta Services Inc. to preserve documents tied to its Foreign Corrupt Practices Act compliance program, the company said in a securities filing Thursday.

Houston-based Quanta Services provides engineering, procurement and construction services for infrastructure.

It said the SEC is looking into its operations in foreign countries, including South Africa and the United Arab Emirates.

In its Form 10-Q filed with the SEC on May 8, 2014, it said:

On March 10, 2014, the SEC notified Quanta of an inquiry into certain aspects of Quanta's activities in certain foreign jurisdictions, including South Africa and the United Arab Emirates. The SEC also requested that Quanta take necessary steps to preserve and retain categories of relevant documents, including those pertaining to Quanta's U.S. Foreign Corrupt Practices Act compliance program. The SEC has not alleged any violations of law by Quanta or its employees. Quanta has complied with the preservation request and is cooperating with the SEC.

- See more at: http://www.fcpablog.com/blog/2014/5/12/sec-asks-quanta-services-to-...

http://www.fcpablog.com/blog/2014/5/12/sec-asks-quanta-services-to-preserve-fcpa-related-documents.html#

 

The Corporate Investigations List (October 2014)

By Richard L. Cassin | Monday, October 6, 2014 at 7:28AM

The companies listed below are the subject of an ongoing and unresolved FCPA-related investigation. The names are current through September 30, 2014.

The entries are based on disclosures in SEC filings or credible news reports or both.

Some companies on the list have disclosed DOJ and SEC investigations, and declinations from only one of those agencies. We're assuming the agency for which a declination hasn't been disclosed is continuing its investigation.

- See more at: http://www.fcpablog.com/blog/2014/10/6/the-corporate-investigations...

 

82)  Quanta Services Inc

 

http://www.fcpablog.com/blog/2014/10/6/the-corporate-investigations-list-october-2014.html

 

5-13-2014 - Anti-Money Laundering

FCPA Policies of Quanta Services Under Investigation by US Securities & Exchange Commission

The Foreign Corrupt Practices Act (FCPA) compliance policies and procedures of Quanta Services Inc (Quanta) are under investigation by the US Securities and Exchange Commission (SEC). The SEC is focused on Quanta’s activities in South Africa and the United Arab Emirates.

Quanta is a publicly traded company based in Houston, Texas. It provides infrastructure services, including engineering, procurement and construction.

Below is an excerpt from Quanta’s 10Q:

On March 10, 2014, the SEC notified Quanta of an inquiry into certain aspects of Quanta's activities in certain foreign jurisdictions, including South Africa and the United Arab Emirates. The SEC also requested that Quanta take necessary steps to preserve and retain categories of relevant documents, including those pertaining to Quanta's U.S. Foreign Corrupt Practices Act compliance program. The SEC has not alleged any violations of law by Quanta or its employees. Quanta has complied with the preservation request and is cooperating with the SEC.

Source Location: TruthTechnologies.com

http://www.truthtechnologies.com/articles/display/fcpa-policies-of-...

Comment by Barbara Durkin on April 6, 2016 at 10:49am

Patrick Wood III Director of Range Fuels Inc

DOE is doing a lot of soul searching at the behest of the White
House because of the dearth of bio-energy project successes. Political pressure
will not make it happen, money will not make it happen, but a serious well
developed , innovative, simple process and technology will.
Below are some of the massive failures:
Occidental's flash pyrolysis unit in Sad Diego: $100mm
Britestar/EDL pyrolysis unit in Australia: $200mm
Range Fuels: $300mm

http://listarc.com/showthread.php?2111593-Range+Fuels+Closing+Plant...

Comment by Barbara Durkin on April 6, 2016 at 10:43am

Patrick Wood III Director First Wind Energy Systems

"First Wind Energy Systems" and "First Wind Energy LLC" and “First Wind” were sold to Caliber Energy that is Navajo Wind noticed in multiple press releases on July 14, 2009. PINKSHEETS: CLBN

 The SEC determined that Caliber is a sham after Caliber announced a new office in  Xinjiang China, representing company headquarters in Atlanta, CA, and Atlanta, Georgia, and in Beverly Hills.  Navajo announced it had  taken delivery of 53 wind turbines for $65 million for a project in China.  While the company, according to the SEC was a rented only mailbox and outgoing only line.

By February 7, 2014 Caliber and Calibre were among 255 shell companies suspended by the SEC in a crack down on “pump and dump” schemes.   

The “US Securities and Exchange Commission’s” Operation Shell-Expel” resulted in the trading suspension applied to 255 shell companies on February 3, 2014. 

http://www.scmp.com/business/money/markets-investing/article/142276...

Here's what the SEC has to say about Caliber that bought First Wind announced 7/14/2009--

UNITED STATES DISTRICT COURT

SOUTHERN DISTRICT OF FLORIDA

Case No.:

SECURITIES AND EXCHANGE COMMISSION,

Plaintiff,

- against -

WALL STREET CAPITAL FUNDING LLC,

PHILIP CARDWELL, ROY CAMPBELL, and

AARON HUME,

Defendants.

COMPLAINT

Plaintiff Securities and Exchange Commission (“Commission”), for its Complaint against

defendants Wall Street Capital Funding LLC (“WSCF”), Philip Cardwell (“Cardwell”), Roy

Campbell (“Campbell”), and Aaron Hume (“Hume”) (collectively “Defendants”) alleges:

SUMMARY OF ALLEGATIONS

1. Defendants are stock promoters – they make their living repackaging “news”

released by penny-stock companies and distributing it along with their own, always optimistic

commentary.

Case 1:11-cv-20413-DLG Document 1 Entered on FLSD Docket 02/07/2011 Page 2 of 51

Similarly, from January 2009 to November 2009 Defendants created and

distributed promotional material for Caliber Energy, Inc. (“Caliber” or “CLBN”), which

purported to be an Atlanta-based developer of wind-energy projects in China. Again, despite a

series of effusive announcements about its expanding business, Caliber’s headquarters were a

rented mailbox in a UPS Store and its phone line was an unattended, outgoing-only line.

http://www.sec.gov/litigation/complaints/2011/comp21841.pdf

Press-about Caliber, Calibre, Navajo SEC SUSPENDED PUMP AND DUMP SCHEMES!!!

First Wind Energy Systems

Merger/Acquisition

Caliber Energy Inc. (OTCPK: CLBN) acquired First Wind Energy LLC on July 14, 2009.CLBN's price was up 25.00% after the transaction was announced on 07/14/09.

Investor / Buyer

Caliber Energy Inc.

Key developments for Caliber Energy Inc. (CLBN)

http://investing.businessweek.com/research/stocks/snapshot/snapshot.asp?ric=CLBN.PK

SOURCE: Navajo Wind Energy Corp. 

Jul 14, 2009 16:02 ET

Caliber Energy Inc. Opens New Corporate Office in Xinjiang China

05/18/2009

Caliber Energy Inc. announced that on May 12, 2009, the company launched the new Xinjiang Wind Farm Corporate Office. 

Pink Sheets: CLBN Stock quote and news - Caliber Energy [exposed]

 

Jul 14, 2009 16:02 ET

SOURCE: Navajo Wind Energy Corp.

Navajo Wind Acquires First Wind Energy Systems

ATLANTA, GA--(Marketwire - July 14, 2009) - Navajo Wind Energy Corp. (the "Company" and formerly Caliber Energy Inc.) (PINKSHEETS: CLBN) announced today that it has completed its acquisition of First Wind Energy Systems, a company that specializes in community scale wind turbine systems. The acquisition of First Wind Energy Systems ("First Wind") brings smaller wind turbine expertise to Navajo Wind to enhance and expand its community wind power product and service offerings.

http://www.marketwire.com/press-release/Navajo-Wind-Acquires-First-...

CALIBER ENERGY INC

(CLBN:OTC US)

LAST $0.0040 USD

CHANGE TODAY 0.00 0.00%

VOLUME 0.0

CLBN On Other Exchanges

As of 8:10 PM 01/21/11 All times are local (Market data is delayed by at least 15 minutes).

SnapshotNewsChartsFinancialsEarningsPeopleOwnershipTransactionsOptions

text size: T | T

Back to Snapshot

Company Description

Contact Info

541 l0th Street NW

Suite 262

Atlanta, CA 30318

United States

Phone: 800-598-2034

Fax: 888-834-1572

www.navajowindenergy.com

Caliber Energy Inc., a renewable energy company, focuses on developing clean wind energy projects in the People’s Republic of China. The company’s projects range in size from 10 to 100 MW and would total approximately 500 MW of wind power.

Caliber Energy, Inc., an exploration stage company, operates as an oil and gas company. The company also has interests in mining and mineral properties. It has interests in Ritz Claims including two post mineral claims and four post mineral claims in the Lillooet Lake Region of Southwest British Columbia, Canada; and Tudor Gold Property consisting of twenty-two contiguous unpatented mining claims covering approximately 2,965 acres of land in eastern Ontario, Canada. The company was founded as Twin Ventures, Ltd. in 2002 and changed its name to Rincon Resources, Inc. in 2004. Later, it changed its name to Caliber Energy, Inc. in 2005. Caliber Energy is headquartered in Beverly Hills, Californ...

 

CLBN Details

Caliber Energy Inc. operates as a renewable energy company. It focuses on creating electricity from the power of wind. The company is based in Atlanta, Georgia.

http://www.realpennies.com/otc/CLBN

OTC BB - Pink Sheet Stock Gainers - 7/22/09

CALIBER ENERGY NEW (CLBN.PK) - Navajo Signs Wind Turbine Manufacturing Supply Agreement With China Lao Gaixian Wind L.P. With an Estimated Value of US$65 Million - Navajo Wind Energy Corp.

http://daytradingstockblog.blogspot.com/2009/07/hot-penny-stocks-72...

M2 PRESSWIRE-22 July 2009-Wall Street News Alert: Hot Stock on the Move: CLBN! July 22, 2009(C)1994-2009 M2 COMMUNICATIONS

RDATE:22072009

Weston, FLA -- Wall Street News Alert's "stocks to watch" this morning are: Navajo Wind Energy Corp. (formerly Caliber Energy Inc.) (OTC: CLBN), Quasar Aerospace Industries, Inc. (OTC: QASP), NXT Nutritionals Holdings, Inc. (OTCBB: NXTH) and Health Enhancement Products, Inc. (OTCBB: HEPI).

For more information, please visit www.WallStreetNewsAlert.com and you can also follow Wall Street News Alerts on Twitter at http://twitter.com/wsna

There is major breaking news coming from Navajo Wind Energy Corp. (formerly Caliber Energy Inc) (OTC: CLBN), as the company has just inked a wind turbine manufacturing supply agreement with an estimated value of US$65 Million.

Yesterday after the markets closed, the company, a renewable energy company focused on creating electricity from the power of wind, issued a press release announcing that it has signed a wind turbine manufacturing supply agreement (the "Agreement") for the delivery and commissioning of 53 750 KW wind turbines to China Lao Gaixian Wind L.P., represented by PCA Wind Power OA Inc., for its 120.80 MW wind farm project in Liaoning Province, China (the "China Lao Gaixian Project").

"We are quite excited about the Agreement for the China Lao Gaixian Project. This project has a strategic value to Navajo as it represents our first order through our joint venture with Mingchuang Energy Manufacturing Co. Ltd.," said Barry Doyle, President and Chief Executive Officer of Navajo. "We are pleased to be working with a proven developer such as PCA Wind Power OA Inc. and we look forward to the beginning of the manufacturing phase of this agreement."

The Agreement includes provisions for supplying the China Lao Gaixian Project with 53 complete wind turbines, as well as testing and commissioning services. As is common practice for agreements of this nature in the wind industry, the turbine supply agreement is subject to a "notice to proceed," to be given by China Lao Gaixian Wind L.P. once a number of condition precedents have been met to PCA Wind Power's satisfaction and once final permitting, approvals and financing have been obtained by both parties. Under the Agreement, delivery of turbines would occur during the second quarter of 2010 provided that a notice to proceed is given in the fall of 2009. The Agreement also provides for operations and maintenance services to be provided to China Lao Gaixian Wind L.P. over a two-year period. This

http://www.highbeam.com/doc/1G1-204144973.html

Navajo Wind Energy - a house of cards?

By Matthew Donovan 4/1/2009 10:01:19 PM GMT

 

ATLANTA, GA.: Atlanta-based Navajo Wind Energy (PINK SHEETS: CLBN) has issued a large number of press releases, touting its success in entering the Chinese wind power market. However, some evidence suggests that the company's business foundations may not be as solid as indicated.

 

In the past few months, Navajo claims to have received a letter of intent for US$50 million of financing for a 200 MW wind farm in Xinjiang, China, valued at US$450 million and agreed to work with Mingchuang Energy Manufacturing Co. to create a joint venture on wind projects in China. According to a statement issued by Navajo, the two companies have signed a turbine supply and purchase agreement for 80 turbines for the company's Xinjiang wind farm project.

 

While Navajo's position sounds enviable, the company appears to be having problems. Pink OTC Markets has discontinued the display of quotes on pinksheets.com for the company's securities because it has been labeled Caveat Emptor (Buyer Beware) and because adequate current information has not been made available by the issuer of the securities.

 

According to Pink OTC Markers, Navajo has been labeled Caveat Emptor for one of the following reasons: questionable promotion, spam, investigation of fraud, suspension/halt, disruptive corporate actions, unsolicited quotes or other public interest concerns.

 

Consequently, Pink OTC Markets has removed the quotes from its Web site until adequate current information is made available by Navajo and until Pink OTC Markets believes there is no longer a public interest concern.

 

In a statement dated March 20, Navajo said it was in the process of filing current information with Pink Sheets and "working diligently compiling its information for filing with the Pink Sheets OTC disclosure and news service to update our corporate disclosure."

 

This article continues…

http://www.energycurrent.com/index.php?id=3&storyid=17141

 

Comment by Barbara Durkin on April 6, 2016 at 10:35am

The devil is in the details, Pineo Girl :)

Pat Wood III Director TPI Composites-

TPI Composites’ Statement On Award of More than $9 Million In Recovery Act Manufacturing Tax Credits from the Obama Administration. http://www.tpicomposites.com/press-room/press-releases/tpi-composites%E2%80%99-statement-on-award.aspx

Massachusetts Clean Energy Center (MassCEC) has awarded TPI a $250,000 grant http://www.sustainablebusiness.com/index.cfm/go/news.display/id/20936

“After all, TPI Composites has also received accolades from Barney Frank, Debbie Wasserman Schultz, and President Obama. Iowa companies have received more than $160 million in Department of Energy stimulus grants. How unfortunate that some Republican contenders chose to endorse more of the same instead of taking the opportunity to explain the senselessness of such a system. One would think that the Iowa Straw Poll would have been the optimal event to explain the free market perspective rather than acquiesce to the demands for more corporate welfare…”

http://biggovernment.com/jgriffith/2011/08/25/wasserman-schultz-and...

On the promise of jobs to his district, in 2005 Congressman Dave Hobson (7th District, Ohio), secured a $4.5 million earmark for TPI Composites to develop an Army vehicle similar to the Humvee, but with lighter materials. Lobbyist Juliet Pacquing collected $60,000 from TPI Composites. Her husband, Kevin Cook was Hobson’s top staffer for the House Appropriations subcommittee on Energy and Water. For nearly seven months after the Springfield (OH) plant closed in March 2009, Mr. Hobson and his successor, Steve Austria, took credit for up to 100 jobs at that facility. That claim may have helped Mr. Hobson and Mr. Austria raise campaign cash, but if those jobs exist at all they now do so at TPI Composites facilities in China, Mexico, Rhode Island or Iowa. (Sources: Springfield News Sun, Mar 18, 2009, and USA Today, October 16, 2006). Regardless of the success of the Humvee upgrade program, there is a strong argument that the $4.5 million earmark to TPI Composites was purely political and fraught with inefficiencies, not the least of which is the recurring overhead on a vacant production facility at 2145 Airpark Drive in Springfield subsidized by the U.S taxpayer.

http://greeneherald.com/article/open-letter-secretary-ashton-carter

 

Comment by Eric A. Tuttle on April 6, 2016 at 10:35am

Sun Edison's Market Spike looks very similar, Same Crooks ? Same Business Model ? Same Results ?

Comment by Pineo Girl on April 5, 2016 at 11:03pm

amazing detail of the facts Barbara!

Comment by Barbara Durkin on April 5, 2016 at 10:52pm

Patrick Wood III

Mr. Wood serves as a Director of TPI Composites, Inc., First Wind Energy Systems and has been a Director of Range Fuels Inc. since June 2008, Quanta Services Inc. since May 24, 2006, and Sunpower,Inc. since September 2005. He served as the Chairman of the Public Utility Commission of Texas from 1995 to 2001. He holds a B.S. in Civil Engineering from Texas A&M University and J.D. degree from Harvard Law School.

http://investing.businessweek.com/businessweek/research/stocks/peop...

Historically speaking…

Patrick Wood III was Chair of the Texas Public Utility Commission PUC (1999) when the model for states' statutes was adopted that mandates renewable energy, the Renewable Portfolio Standard RPS. 

Enron CEO Ken Lay recommended Patrick Wood III to then President George W. Bush to serve as Chairman of the Federal Energy Regulatory Commission. 

Pat Wood's failure to address the US most notorious case of corporate fraud and energy market manipulation by ENRON as FERC Chair prompted a response from the Executive Director, Foundation for Taxpayer and Consumer Rights.   Douglas Heller by June 16, 2004 letter to FERC Chairman Pat Wood III, states, (a clip):  

California ratepayers remain at least $7 billion short of what they are due in refunds in large measure because the FERC, under your leadership, has failed to protect consumers from the illegal profiteering of energy companies and has refused to enforce the law so Californians can recover billions of dollars stolen from the state.

It is, of course, not just the outstanding refunds that you have withheld, but your unwillingness to bring energy companies to the table for contract renegotiation that is so offensive. The market manipulation began at least as early as June 2000, according to a Department of Justice indictment of Reliant. It continued - as evidenced by Enron's "Fat Boy/Death Star" memo, the conversations about manipulation involving AES and Williams traders as well as the new Enron tapes and a host of other indisputable proof -- through the 2001 blackouts and price spikes. This should provide you with incontrovertible evidence that the contracts must be abrogated or renegotiated.

Although you do not attempt to defend these indefensible tapes, your effort to deflect their relevance in this manner demonstrates your continued allegiance to your long-time promoter Ken Lay. But more importantly, your letter shows that you do not grasp the heinousness of this massive larceny. ((cut, continue reading)

http://www.consumerwatchdog.org/feature/ftcrs-letter-ferc-chairman-...

ENRON LIVES! 

https://www.masterresource.org/enronken-lay/power-politics-enron-li...

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