The Best Energy Bill Corporations Could Buy, Then Hide Real Profits in the Cayman Islands

The Best Energy Bill Corporations Could Buy, Then Hide Real Profits in the Cayman Islands


In addition to providing billions of dollars to already wealthy oil, nuclear and coal companies, the energy bill abandons consumers by repealing the Public Utility Holding Company Act (PUHCA), one of the most effective consumer and protection laws governing the power sector. With this law now gone, investment banks, hedge funds, insurance companies and oil companies will now be allowed to own utilities, giving these new corporate owners license to raid the utilities’ guaranteed revenue streams for use in leveraging non-utility acquisitions, opening the door to price-gouging of ratepayers.

http://www.citizen.org/cmep/energy_enviro_nuclear/electricity/energybill/2005/articles.cfm?ID=13980

The Republicans bought and paid for, how to screw Americans/Citizens at every turn, drain them dry. Corporate America and the boys in power had 12 years of House, Senate rule then came BushCo to top off the Largest Crime in History, emptying the pockets of every American. This plan has worked better then they ever though could, now they have hid the real profits in Tax Free Accounts in the Cayman Islands