Corporate profiles compiled by George Draffan
Public Information Network, PO Box 95316, Seattle WA 98145-2316 USA
FAIR USE NOTICE: This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in our efforts to advance understanding of environmental, political and economic issues.
EAC TIMBER AMERICAS
Box 10376, Greenboro, NC 27404
1678 San Onofre Dr, Pacific Palisades, CA 90272
EAC has offices in 41 countries. Specializes in African and Philippine mahogany, Burma teak, etc. Advertised in National Hardwood Magazine (Nov. 1988).
Has obtained logging concessions on the south side of Choiseul island in the Solomon Islands (World Rainforest Report, Jan. 1991, p. 7).
EAST MAIN RIVER PROJECT see James Bay
Easternoil Services and two Kazakh oil and gas agencies (Uralskneftegasgeologia and Uralskaya Geophysical Expedition, collectively Uralskgeo) plan development of 33,000 square kilometers in the Uralskaya Oblast in Kazakhstan (Oil & Gas Journal, Sept. 16, 1991, p. 38-41).
Eastman Chemical was spun off from Eastman Kodak in December 1993; it manufactures and sells polyester plastics, coatings and paint raw materials, industrial and fine chemicals, and filter tow. The biggest shareholder is the University of California, (which is also a major shareholder of Kodak) (Eastman Chemical, 1995 Form 10-K).
Eastman Chemical has subsidiaries in Argentina, Singapore, Netherlands, UK, Brazil, Canada, Europe, Middle East & Africa, Mexico, Hong Kong, Japan, South Korea, Malaysia, Spain, and Barbados. Other subsidiaries include Holston Defense (Virginia), Mustang Pipeland Company of Texas, Pinto Pipeland Company of Texas, Eastman International Management Co., Eastman Chemical Ectona, ltd. (United Kingdom), Hartlepet Ltd., and Workington Investments Ltd.
343 State Street,Rochester NY 14650
Eastman Kodak produces cameras, films, photographic supplies and equipment, business equipment, copiers, applications software and printers, and imaging system components (Eastman Kodak, 1995 Form 10-K).
Eastman Kodak subsidiaries include separate "Kodak" or "Eastman Kodak" corporations in the Netherlands, Barbados, Canada, Hong Kong, Argentina, Brazil, Chile, Venezeula, Singapore, England, Russia, India, Ireland, France, Germany, South Korea, New Zealand, Australia, Kenya, Egypt, Malaysia, Taiwan, Mexico, Belgium, Denmark, Norway, Switzerland, Thailand, Austria, Hungary, Finland, Italy, Spain, Sweden, and Japan, plus U.S.-headquartered subsidiaries in Portugal, Uruguay, the Caribbean, Colombia, Peru, and Panama, plus the following subsidiaries: Cinesite, Eastman Gelatine, FPC Inc., Image Bank, Jamieson Film, Qualex, Torrey Pines Realty.
In 1993, Eastman Kodak was planning to expand into Laos, Cambodia, and Burma; and had signed a contract and begun working on photo processing labs in Rangoon, Burma (Burma Issues, Dec. 1993, p. 6, citing Bangkok Business, Thai Financial, July 13, 1993, and Siam Post, Nov. 24, 1993).
Kodak spun off its chemical and plastics operations into new publicly-traded corporation, Eastman Chemical, in December 1993. See Eastman Chemical.
The Council on Economic Priorities produced an environmental report on Kodak (contact CEP, 30 Irving Place, New York NY 10003, 1-800-729-4237).
EBASCO (ELECTRIC BOND AND SHARE COMPANY)
Morgan holding company.
ECHO BAY MINING LTD.
10180 101st Street , Edmonton Alberta T5J 3S4, Canada
telephone (403) 429-5811
Gold and silver mining and processing; two-thirds of its 1991 sales were in the United States, and one-third in Canada. It lost C$69 million in 1990, and made only $7.8 million in 1991 (Worldscope database record).
Echo Bay runs the Kensington mine on the Alaskan panhandle with Coeur d'Alene Mines.
The Mineral Policy Center, publisher of Clementine: the Journal of Responsible Mineral Development, has an Environmental Report Card on Echo Bay; write to MPC at 1325 Massachusetts Ave. NW, Room 550, Washington DC 20005.
With Amoco, evaluating millions of acres of Colombian rainforest for petroleum.
Like Brascan, a holding company controlled by the Bronfman family; see Bronfman
EFN see Energy Fuels Nuclear
EIDAI do BRASIL MADEIRAS
Largest timber operator in the Brazilian Amazon. Half-owned by Mitsubishi (Multinational Monitor, Jan/Feb. 1994, p. 39, citing report by Rainforest Action Network).
"Using ultraviolet technology, Greenpeace activists identified an illegal supply of logs in the yard of Eidai do Brasil, a Japanese export logging company, in Icoaraci Municipality of Para State, Brazil. Officials from Brazil's environment agency, IBAMA, who were with the Greenpeace team when they identified the illegal wood, fined the company and confiscated the logs... Last Friday, IBAMA and Greenpeace, returning from a routine visit to a mill in Para State, stopped a truck carrying seven logs of "faveira," a type of timber used by the plywood industry. The cargo was not accompanied by Authorization for Forest Products Transport documents, and was therefore illegal. In order to track the logs to their destination, IBAMA agents released the truck after Greenpeace activists marked the logs with a special dye which is sensitive to ultraviolet light. On Monday morning, the truck carrying the marked logs entered the gates of Eidai do Brasil. A few hours later, empty, the vehicle left. IBAMA and Greenpeace then attempted to enter the company property but were stopped by security guards. Only after intervention by the Federal Police at the end of the afternoon were Greenpeace activists able to enter the Eidai facility and, using ultraviolet lamps, located the marked logs. Under the Environmental Crimes Law recently adopted by the Brazilian government, IBAMA then fined Eidai do Brasil R$3,600 (US$1,800) for being in possession of the logs. While awaiting the arrival of the Federal Police, IBAMA also apprehended and fined another logging truck delivering faveira timber to Eidai with insufficient documentation... Eidai is the largest exporter of processed wood from the Amazon, controlling major plywood markets in the U.S., Japan, U.K., and the Netherlands. In 1998, the company exported wood products valued at over US$35 million and processed 260,000 cubic meters of wood. "We have shown today that Eidai, like most transnational logging companies operating in the Amazon, buys undocumented and illegal timber from third parties," said Adario. "The Brazilian government themselves admit that 80 percent of the timber logged in the Amazon is illegal, but has difficulties proving and exposing these practices. But our action, in co-operation with IBAMA, shows that even with simple resources it is possible to expose and punish the destroyers of the Amazon forest." Paulo Castelo Branco, the new head of IBAMA in Para, welcomed Greenpeace's support. "Thanks to Greenpeace's intelligence support, we could prove that Eidai bought illegal timber. This operation shows that we can ban illegal timber exploitation in the Amazon by combining political will, support from the federal government, and public engagement," he said... The action against Eidai further proves that illegal operations are common practises of the Amazon timber industry. Only last week Madeireira Capacio Ltda., in Tome Acu, 196 kilometers from Belem, was fined US$3 million after an IBAMA/Federal and Military Police raid on their facilities. Madeireira Capacio is a regular supplier to the transnational wood products export companies Eldorado, Nordisk Timber, and Mognolumber. Para's economy is heavily dependent on timber. About 20 percent of the state's gross income comes from wood. The Secretary of Environment of Para registers 2,123 companies dealing with wood. Greenpeace claims the vast majority of them trade in illegally-logged timber. Para produces some 14 million cubic meters of logs a year and exported US$254.9 million in wood products in 1998. This amounts to 67 percent of the Brazilian Amazon timber exports and 23 percent of the country's exports of sawn wood, plywood, and veneer. Brazil is the biggest world consumer of tropical timber. Seventy-five percent of the wood that leaves the Amazon remains in the country. Para supplies 40 percent of the Brazilian consumption of tropical timber." (Illegal Timber Trade Exposed, Environment New Service, Dec. 9, 1999, http://www.ens.lycos.com/, via ForestWorld http://www.forestworld.com/).
"Environmentalists fighting illegal logging in Brazil's Amazon have had some "early success" with an invisible ink designed to tag timber, Greenpeace said yesterday. In a joint operation last week, Greenpeace and Brazil's state environmental agency, Ibama, used the ink, which can only be seen with ultraviolet light, to mark 250 cubic-feet of timber being shipped by river from a protected jungle reserve. Three days later, it reached a site owned by the Japanese firm Eidai, which was fined $2,050. Greenpeace activist Paulo Adario said Eidai had received 12 similar fines in recent months and that Eidai and other logging companies in the Amazon regularly buy timber from local people at cheaper prices. Greenpeace said 80 percent of Amazon timber is obtained illegally. Adario: "The problem which Ibama is facing is that the trees cut illegally are mixed at the yard with the authorized wood, so this ink allows you to identify which ones were taken without authorization." Ibama is using the ink in two of Brazil's Amazonian states, Amazonas and Para." (Greenwire, Dec. 14, 1999, citing Reuters/Boston Globe, Dec. 14).
From Greenpeace, The Amazon's Major Threat: Illegal Logging, July 2000 media briefing: "The Amazon rainforest is one of the biologically richest areas in the world containing more than one-third of the world's remaining ancient forests and supporting up to 50% of the planet's land-based animal and plant species. In the Amazon an area nearly the size of the State of Texas has already been destroyed (about 1/7th of the total) and an area half the size of Belgium disappears annually. According to the Washington based World Resources Institute (WRI) nearly 80% of the earth's original ancient forests have either been destroyed or degraded. The remainder is disappearing at the rate of 10 million hectares every year - an area the size of a football field, every two seconds... Illegal logging and international illegal timber trade continues to flourish. For example, the Brazilian Government estimates that 80% of all logs cut in the Brazilian Amazon are extracted illegally.... Eidai do Brazil is owned by Eidai Inc. in Japan. Eidai is the largest processed forest products exporter in Para State and exports plywood and veneer to the USA, Japan, the UK and the Netherlands. On 11th, Eidai do Brasil received a record fine from IBAMA of about US$1.88 million (3,400,000 Brazilian Reals) for utilising timber obtained illegally. This fine refers to 9 legal infractions applied by IBAMA, regarding 6,200 cubic meters of logs processed by Eidai in the period September 1999 to February 2000. The illegal logs are part of a larger volume involving 22,000 cubic meters of illegal logs discovered during an investigation by IBAMA of Eidai's records upon the request of Greenpeace. The 6,200 cubic meters of illegal timber falls under Brazil's new environmental crimes law which took effect in September 1999. In December last year, Greenpeace investigators in Brazil, using simple ultra-violet paint, revealed that logs being delivered to Eidai were illegal and asked IBAMA to search the accounts of Eidai. Fines for the remaining logs processed by Eidai prior to the new legislation are currently under consideration by IBAMA. With these 9 new violations, Eidai over the last 11 years was found to be in violation of Brazilian forestry laws 108 times. On the same day Eidai received the US$1.88 million, Greenpeace carried out a number of actions against the importation of Eidai plywood into Kobe, Japan. Three days of confrontation resulted in a public commitment by Mr. Okamura, Administrative Director of Eidai, that the timber company would "no longer buy illegal logging." It remains to be seen how the company will enforce this public commitment. (Greenpeace press backgrounder "The Amazon's major threat: Illegal Logging" July 2000, Media Briefing).
Indonesian timber corporation headed by Tan Sri Ting Pek Khiing.
"French joinery giant Lapeyre - part of the Saint Gobain Group - owns the Brazilian company Eldorado which Greenpeace has exposed for its role in trading in illegal Amazonian wood."
Greenpeace Exposes International Timber Criminals In French Port: Activists board ship with Amazon cargo from multinationals Lapeyre and WTK. Greenpeace International Forests Campaign, July 28, 2000, http://www.greenpeace.org/~forests/
French Commandos Arrest Greenpeace Activists In Honfleur, France: MV Aquitania abandons port without offloading Amazon criminal timber. Greenpeace International Forests Campaign, July 29, 2000, http://www.greenpeace.org/~forests/
Against the Law: the G8 and the Illegal Timber Trade, by Greenpeace International http://www.greenpeace.org/%7Eforests/resources/
EL DORADO NUCLEAR LTD
360 Albert, Suite 400, Ottawa Ontario K1R 7X7, Canada
telephone (613) 238-5222
Sells uranium; had 1987 revenues of $327 million (Worldscope 1992).
Los Angeles, CA
Sweatshop from which 66 Thai laborers were released from slavery conditions in August 1995. Some (all but 6 were women) had been imprisoned for as long as 5 years, working for about 70 cents per hour for up to 20 hours per day, surrounded by barbed wire, buying food in an on-site company store. The U.S. Dept. of Labor released the following lists of manufacturers and retailers:
Manufacturers using El Monte slave labor: R&D, F40 California, LF Sportswear, Balmara, Point Zero, Paragraff Clothing, A&M Casulas, BUM International, Tomato, Ms. Tops of California, New Boys/Voltage, Excuses SportsWear, Bermo Enterprises, US Boys, Diane Samandi.
Retailers using El Monte slave labor: Foley's Petite, Meir and Frank, Hecht's, Kaufman's, Dayton Hudson, Broadway, Specialty Retailers, Sears, Venture, Lerner, Macy's West, R obinson's May, Filene's, Neiman Marcus, Rich's, Montgomery Ward, Fred Meyer, J.C. Penny. The companies deny knowledge of the conditions at El Monte (Haider Rizvi, Slaves to Fashion, Multinational Monitor, Oct. 1995, p. 6-7).
EL PASO NATURAL GAS
El Paso TX
Acquired and then spun off by Burlington (Burlington Northern Railroad) Resources.
Mexican electrical generation.
Libya LNG tankers.
James Ridgeway. The Last Play: The Struggle to Monopolize the World's Energy Resources. New York: New American Library, 1973.
Brazilian government energy agency. See Balbina, Tucurui, and Xingu.
Brazilian power company. See Balbina, Tucurui, and Xingu.
Tour Elf, Cedex 45, 92078 Paris La Defense, France
telephone 011-33-1-47-44-45-46 fax 011-33-1-47-44-69-46
280 Park Ave., 36th Floor, New York NY 10017
telephone 212-922-3000 fax 212-922-3001
World's eighth largest petroleum company; the French government owns 54 percent of it. Elf Aquitaine owns Atochem (Europe's fifth-largest chemical company) and Sanofi (pharmaceuticals and personal products, including Van Cleef & Arpels, Oscar de la Renta, and Perry Ellis perfumes). Holdings in the United States include Texasgulf and Tg Soda Ash. Had 1990 sales of 189 trillion francs and income of almost 11 trillion francs; about 70 percent of its sales are in France (Hoover's Handbook of World Business 1992, p. 187).
Elf Aquitaine's predecessor government/companies found oil in Algeria, Gabon, and the Congo in the 1950s. The Algerian fields were nationalized in 1971. In 1989 Elf Aquitaine bought the Philadelphia-based chemical company Pennwalt, and in 1991 Occidental's North Sea oil holdings (Hoover's Handbook of World Business 1992, p. 187).
Marketing oil in Zaire (Oil & Gas Journal, Oct. 30, 1989, p. 31). Oil operations in Brazil and Ecuador as well (The Ecologist 19(6):219-224 (1989). Operations in Ecuador have led to demonstrations by indigenous peoples (World Rainforest Report, Oct-Dec. 1992, p. 10).
In 1958, Shell discovered petroleum near the Niger River delta in Nigeria; since then, Shell has extracted $30 billion worth of oil and natural gas. Shell, Mobil, Chevron, Texaco, and other oil companies generate 80 percent of Nigeria's annual revenue. Since 1993, the local Ogoni people have been suppressed; 20 Ogoni towns have been destroyed, 1,800 people killed, and 50,000 left homeless. The Nigerian government's hanged Ken Saro-Wiwa and eight other Ogoni peoples activists on November 10, 1995. Shell has been condemned for its role; over 300 people protested at Shell's New York headquarters on November 13, 1995. A few days after the execution, Shell announced a new $4 billion Nigerian natural gas plan; ELF, and Agit are also involved. (Interview with Human Rights Watch on National Public Radio on Nov. 16; RAN Action Alert, No. 115, Dec. 1995).
Elf Aquitaine began oil exploration in Burma in 1989. Myanmar Oil & Gas Enterprise (MOGE), the agency overseeing oil and gas development in Burma, is controlled by the military regime SLORC; since 1989, MOGE has signed multimillion dollar contracts with many foreign oil companies. A subsidiary of the Thai national oil company, PTT Exploration and Production, has proposed developing natural gas in Burma's Gulf of Mataban and shipping it to Thailand through an undersea pipeline. (See article by Dara O'Rourke, "Oil in Burma: Fueling Oppression," Multinational Monitor 13(10):7-11, Oct. 1992).
In 1996, Exxon, Royal Dutch Shell, and Elf Aquitaine began the $3 billion Doba Basin pipeline project to move crude oil from southern Chad to a port in Cameroon. Exxon and Shell each held a 40 percent interest in the Doba plan. Elf held the remaining 20 percent. In November 1999, Shell and Elf Aquitaine announced they were backing out of the project, but Exxon and the World Bank reaffirmed their commitment to the project. The project would develop 300 oil wells near Doba to bring onstream in 2001 between 200,000 and 250,000 barrels of oil per day, with an estimated yield of 900 million barrels over 15 to 20 years. The oil would be shipped via a 650-mile (1,050 km) pipeline to a new terminal at the Cameroon port of Kribi (Andrew Callus, Chad Oil Dream Fades as Shell, Elf Quit Doba, Reuters, Nov.10, 1999).
In April 2000 the consortium members changed. Esso (ExxonMobil) remained the operator, but Petronas and Chevron replaced Shell and Elf. (see entry for CHAD-CAMEROON OIL PIPELINE).
One of the top ten exporters of sawtimber from Malaysia in 1991 (Asian Timber, April 1992, p.8).
Involved with Tai Power in Chung Hua Overseas Mining Development coal mine in South Kalimantan, Indonesia (Mining Magazine, Mar. 1992, p. 150).
Angolan state-owned diamond company. In joint ventures with Odebrecht of Brazil (Congo River prospect) and De Beers (diamond treatment plant at Luanda) (Mining Magagazine, Aug. 1991 p. 104).
ENERGY FUELS NUCLEAR
EFN's uranium mine near the Grand Canyon is contaminating the water supply of the Havasupai peoples (David Webster, Sep 24, 1992, econet cdp:gen.nativenet "The Activist 8#10, October 1992").
ENGLEHARD MINERALS see Anglo American (Minorco)
ENI (Ente Nazionale Idrocarburi)
P.le Enrico Mattei, 1-00144 Rome, Italy
666 Fifth Ave, New York NY 10103
Italian state-owned oil, petrochemical, and engineering company. Has 325 subsidiaries in 72 countries, including Agip, Agipcoal, and EniChem. Has entered partnerships with Du Pont, ICI, and Hoechst (Hoover's Handbook of World Business 1993, p.217).
ENI helped create Enimonte (chemical and fertilizer manufacturing). Both companies have been involved in masssive kickbacks and bribery. ENI chief Gabriele Cagliari and another Enimonte owner, Raul Gardini, committed suicide in July 1993 after 18 months of corruption scandal; two other officers of Enimonte also died "prematurely" (New York Times, July 27, 1993, p.C1, C5).
ENIM MUSI LESTARI
One of Barito Pacific Timber Group's companies (Asian Timber, Apr. 1992, p. 16).
ENIMONTE see ENI
ENRON see also Corporate Fines & Settlements
California settlement 2005
"More than four years after rolling blackouts and skyrocketing electricity bills shook California and the rest of the West Coast, the Enron Corporation finally settled claims that it played a major role in the energy crisis of 2000 and 2001.
Enron, the former highflying energy trader now operating under bankruptcy protection, announced yesterday that it had reached an agreement to pay as much as $1.52 billion to the State of California and other parties.
But actual payouts are likely to be only a fraction of that amount. Under the bankruptcy plan, Enron will pay unsecured claimants - and California is one of them - about 20 cents on the dollar on average, said Jennifer Lowney, a spokeswoman for Enron.
Enron and other power companies are accused of gouging consumers by artificially inflating electricity prices during the California energy crisis. The crisis led to billions of dollars of surcharges for consumers and businesses on the West Coast.
One of the fastest-growing companies in America in the 1990's and a star on Wall Street, Enron collapsed into bankruptcy in December 2001 amid accusations of widespread financial irregularities and fraud. It is now facing an estimated $65 billion in claims from investors, consumers, employees and government agencies it defrauded. Against that, the company's estate is valued at about $13 billion, and Enron has so far paid out $580 million to claimants in other cases...
The parties that entered into the agreement are the Pacific Gas and Electric Company, the Southern California Edison Company, the San Diego Gas and Electric Company, the California Department of Water Resources, the California Electricity Oversight Board, and the attorneys general of California, Oregon and Washington...
With this latest agreement, total settlements stemming from the energy crisis that hit the Western states have reached nearly $6 billion, according to the Federal Energy Regulatory Commission...
The latest Enron agreement includes $47.3 million in cash, $875 million in unsecured claims for the parties in California, and a $600 million penalty for the three states that were hit by the power cuts.
But the exact amount Enron will pay under the settlement will not be known until its Chapter 11 bankruptcy proceeding is completed and secured claims are paid out. Under its bankruptcy plan, Enron plans to pay 22.8 cents on the dollar in the case against Enron Power Marketing Inc., the subsidiary that was the target of the California power claim.
The agreement is still subject to the approval of the energy commission, the California Public Utilities Commission and the Bankruptcy Court for the Southern District of New York, where Enron filed for protection four years ago.
Enron has agreed to settle government and employee claims against its retirement plans for $356.25 million, the Labor Department said on Monday. There, too, actual payouts will probably be far less. The deal on the retirement payout did not cover claims against Mr. Lay or Mr. Skilling." (Settlement Is Reached With Enron, By Jad Mouawad, New York Times, July 16, 2005).
U.S. government subsidies
Brazil-Bolivia The U.S. Department of State's Overseas Private Investment Corporation (OPIC) is providing funding for the 630-kilometer Gas Oriente Boliviano pipeline project owned by a consortium made up of Enron, Shell, and the Bolivian company Transredes. The pipeline project forms part of a $2.1 billion, 3,150 km scheme to transport natural gas from Bolivia to Sao Paulo, Brazil. See Gas Oriente Boliviano.
India Enron received political risk insurance form U.S. OPIC for a $1 billion project to develop oil and gas fields off the coast of Bombay, India (U.S. OPIC press release, June 13, 1995). Enron's troubled Dabhol power plant project, which was supported by both U.S. OPIC and U.S. Export- Import Bank loans, has been shut down since mid-2001 by a dispute between Enron and the government of [Maharashtra] state. (Richard W. Stevenson, Enron Received Many Loans From U.S. for Foreign Projects, New York Times, Feb 21, 2002).
"During the Clinton years, Enron contributed more than $1 million to the Democratic Party, including $600,000 to the Democatic National Committee, according to Federal Election Commission records. Mr. Clinton and Vice President Al Gore received contributions of $11,000 and $13,750, respectively, for their presidential campaigns. One $100,000 contribution to the DNC was provided before India gave final approval to Enron's Dabhol project in June 1996. The largest and most expensive capital project ever undertaken in India, Dabhol was of dubious economic value and never went on line. The World Bank, on reviewing the project, said it was not economically viable and inordinately benefited Enron, which was a 65 percent owner. Enron still owes $203 million on an Export-Import Bank loan for the project, which the bank says is covered by guarantees provided by five Indian banks.... Top Clinton officials lobbied personally to obtain Indian state guarantees for the Dabhol project after it encountered early problems in 1995. Thomas F. "Mack" McLarty, the White House chief of staff, made it a top administration priority to keep the project from failing. The Bush administration has continued efforts to salvage the project. Clinton Energy Secretary Hazel O'Leary led a succession of missions to India, and Mr. Clinton's ambassador to India, Frank Wisner, was charged with keeping the project afloat. After Mr. Wisner left government in 1997, he took a seat on the board of directors of a company then controlled by Enron. Mr. McLarty also performed work for Enron after leaving the administration." (Patrice Hill, Clinton helped Enron finance projects abroad, Washington Times, ).
The Clinton administration provided more than $1 billion in subsidized loans to Enron Corp. projects overseas at a time when Enron was contributing nearly $2 million to Democratic causes. Clinton officials refused to finance only one out of 20 projects proposed by the energy company between 1993 and 2000 to build power plants, natural-gas pipelines and other big-ticket energy facilities around the world, according to the Export-Import Bank and the Overseas Private Investment Corp., the agencies that provided the subsidies... The Clinton administration provided three loans between 1994 and 1998 to the now-defunct Dabhol power project in India. Mr. Clinton's commerce secretary, Ron Brown, trumpeted the approval of the Dabhol loans on a trade mission to India in 1995, with Mr. Lay by his side. The trip was one of 11 Clinton trade missions provided at taxpayer expense for corporate executives from Enron and other companies. The U.S. Trade and Development Agency, which sponsored the trips, also provided $1 million in funding to study Enron energy projects in Russia, Eastern Europe and former Soviet states... " (Patrice Hill, Clinton helped Enron finance projects abroad, Washington Times, Feb 25, 2002; and Patrice Hill, Clinton agencies assisted Enron rise, Washington Times, April 8, 2002).
"Two government agencies that promote American business interests abroad gave the Enron Corporation hundreds of millions of dollars in loans and other assistance over the last decade, the agencies and Congressional investigators said today. The Overseas Private Investment Corporation, which helps American companies win business against foreign competitors in developing nations, gave Enron $544 million in loans for five projects, starting in 1993. It also provided $204 million in political risk insurance for 10 Enron projects, starting in 1992. The Export-Import Bank of the United States, a government agency that makes loans to foreign companies to help them buy goods and services from American companies, lent $675 million to companies affiliated with Enron, starting in 1993... Of the total $675 million the Export-Import Bank lent to Enron projects, about $510 million remains outstanding." (Richard W. Stevenson, Enron Received Many Loans From U.S. for Foreign Projects, New York Times, Feb 21, 2002).
"Enron received over a billion dollars in U.S. government loans and other support since the mid-1980s... Overseas Private Investment Corp... gave $544 million in loans to projects with an Enron financial interest from fiscal 1993 to 2000. There was another $204 million in exposure by OPIC to political risk insurance projects with Enron equity involvement from 1992 to 1999... Export-Import Bank said it gave more than $650 million to Enron-related companies overseas. In addition, the Trade and Development Agency gave more than $1 million from 1992-2001 for projects involving Enron or its units and sponsored 11 trade missions involving Enron." (Reuters, Senator: Enron Got Over $1 Billion in Aid, Feb 20, 2002).
"When Enron asked about U.S. loans for its international ventures, the government's foreign-investment agency answered -- with promises of more than $ 1 billion. The Overseas Private Investment Corp. granted initial approval to every energy project the company submitted for development loans or political risk insurance, according to interviews and records released on Wednesday. The total, plus hundreds of millions more promised for projects that never proceeded, made Enron, which has filed for bankruptcy protection, one of the federal agency's top beneficiaries. Agency spokesman Lawrence Spinelli says Enron enjoyed an unblemished funding record because its energy projects fit the agency's mission of promoting foreign economic development. And they survived careful financial scrutiny, he says. [US] Sen. Charles Grassley, R-Iowa, ranking minority member of the Senate Finance Committee, says the panel plans to review the records the agency provided as part of a broader review of the Houston-based firm. "These projects obviously were a tremendous benefit to Enron's operation," Grassley says. Indeed, Enron administered several of the projects through partnerships that enabled the firm to keep debt off its bottom line. The partnerships played a central role in Enron's financial meltdown and are the focus of criminal regulatory and congressional investigations. The dozen projects involved range from a controversial India power plant stalled by an international dispute to gas pipelines, power plants or other energy facilities in Guatemala, the Philippines, Argentina, Venezuela and Gaza. Although the Overseas Private Investment Corp. approved financing for each project, Spinelli says a portion of the promised funding was not disbursed because Enron failed to meet some requirements as development progressed. The agency last week also canceled approval of $390 million earmarked for Enron projects in Brazil and Bolivia... The agency's funding represents only a portion of Washington's financial underwriting of Enron-related projects. Two other federal agencies, the Export-Import Bank and the Trade and Development Agency, approved more than $700 million in combined funding for the company's international projects." (Kevin McCoy, U.S. loaned Enron millions Every request got initial OK, USA Today, Feb 21, 2002).
"OPIC documents released last month showed the Bush administration last year intervened with top Indian officials to salvage the Dabhol power project, which is 65 percent owned by Enron. The White House has said the effort, involving Vice President Dick Cheney and other senior officials, was justified because of taxpayer exposure through OPIC and Ex-Im Bank." (Reuters, Senator: Enron Got Over $1 Billion in Aid, Feb 20, 2002).
"The Dabhol plant first ran into serious trouble in 1995 when a new Indian state government canceled the agreement between the plant and the [Maharashtra] state electricity board. Construction resumed after massive political wrangling and litigation in Indian courts. Among the plant's most influential advocates was Frank Wisner, who was then ambassador to India. Wisner sparked a furor when he joined the board of an Enron-controlled company after retiring from the Foreign Service in 1997. Early in 2001, the state board stopped buying power from the plant, saying the cost was too high. Enron soon began trying to sell its interest. Enron's bankruptcy leaves OPIC exposed to more than $1 billion in risks related to projects sponsored by the energy giant, according to an internal OPIC report. That represents a sizable chunk of the agency's portfolio of $15.2 billion. Enron and its partners in the Dabhol project are seeking compensation from OPIC for potential losses. But even if OPIC has to pay them, it can seek redress from the Indian government." (Dana Milbank and Paul Blustein, White House Aided Enron In Dispute, Washington Post, January 19, 2002).
India human rights violations http://www.hrw.org/reports/1999/enron/
For more information on Enron:
Arthur Anderson http://www.andersen.com/website.nsf/content/MediaCenterEnronResources!OpenDocument
Bankruptcy documents http://www.elaw4enron.com/
Bankruptcy - what happens to stockholders of bankrupt companies http://ask.yahoo.com/ask/20011206.html
Bankruptcy chapters explained http://www.howstuffworks.com/question714.htm
Bankruptcy info - NY Court http://www.nysb.uscourts.gov/enron.html
C-Span coverage - including transcripts http://www.c-span.org/enron/index.asp
Enron FAQs http://www.enron.com/corp/pressroom/chapter11faq.html
Enron Fraud http://www.enronfraud.com/
Exposure of other companies http://www.platts.com/features/enron/exposure.shtml
Federal contracts for Enron http://momoney.ire.org/fcg-bin/britannic-table.fcg
FindLaw investigations - documents on Enron http://news.findlaw.com/legalnews/lit/enron/index.html
FindLaw news search http://news.findlaw.com/scripts/newssearch.pl?query=enron
Platts Global Energy news http://www.platts.com/features/enron/
Platts Global Energy news - Enron legal coverage http://www.platts.com/features/enron/legal.shtml
Political money report from CRP http://www.opensecrets.org/alerts/v6/alertv6_31.asp
Washington Post coverage http://www.washingtonpost.com/wp-dyn/business/specials/energy/enron/
Yahoo Enron news http://dailynews.yahoo.com/fc/Business/Enron/
Major paper packaging producer created by the merger of Enso-Gutzeit and Veitsuluoto; partially state-owned; owns 4,750 square kilomteres in Finland; uses old-growth wood from Finland and Russia; involved in Kalimantan and Java (Carrere and Lohmann, Pulping the South, pp. 33, 106-107).
ENTE NAZIONALE IDROCARBURI see ENI
ENTERPRISE OIL LTD.
Enterprise Oil has a three-year (1989-1992) contract for exploration onshore and offshore southwest Sumatra, Indonesia (Oil & Gas Journal, July 31, 1989, p. 48).
Enterprise Oil signed a production-sharing agreement with PetroVietnam in 1990 (Multinational Business, No. 2, 1992, p. 22).
ENTHONE OMI subsidiary of Asarco
EPDC (Japanese Electric Power Development Co.)
Sixty percent government owned; imports coal from China, Indonesia, and, through South Africa, from Ermelo and Whitbank (Mining Magazine, Aug. 1991, p. 105).
See also entry in Development Agencies section.
From Danielle Knight, ENVIRONMENT-RUSSIA: China's Demand for Timber Fuels Clear-cutting in Siberia, InterPress Service, July 27, 2000:
Russian "regional forestry authorities have allowed a large area of pristine Siberian forest to be clear-cut to satisfy China's demand for timber. An area of 490,000 hectares along the Argun river bordering China is being rented to several Russian logging companies, including Kluchi and Epos, which will then allow Chinese companies to manage the logging operations...
"Demand for Russian timber products has increased since 1998 when China established new domestic forest conservation laws which so far have been well enforced. Several years ago China was forced to overhaul its forestry laws after a half-century of exploitation led to disastrous levels of soil erosion and catastrophic flooding... Just north of the world's most populous nation lies one of the Earth's largest intact tract of pristine forest. Known as the Russian Taiga, the seemingly endless expanse of trees stretches from the Ural mountains to the Pacific Ocean and represents 54 percent of the world's coniferous forests and about 26 percent of its remaining frontier forests. The Taiga provides habitat for a vast array of rare and endangered species, including the Siberian tiger, the Amur leopard, brown bear and Japanese crane.
"Siberia is also prone to forest fires which destroy five times as many trees as are lost to logging. Travelling along the trans- Siberian railway you can see whole hillsides of dead forests, the result of uncontrolled burning. After forest fires, logging is one of the key threats to Siberia's forests. According to a report released in June by the international environmental group Greenpeace, about one-fifth of logging in Russia is illegal... http://www.greenpeace.org/~forests/home.htm
"In the region of Chita, the problem is not with large corporations, which are easier to monitor, but with small scale operators who contract with Chinese timber buyers. There are about four registered large logging companies in the region and an estimated 480 small operators... Local newspapers carry many advertisements seeking timber harvesters. ''These ads are placed by Russian middlemen who then sell illegally to Chinese buyers...'' While it is possible to monitor the operations of larger companies such as Kluchi, it is impossible for the forestry service to keep track of all of the small independent dealers... another obstacle lies with a lack of federal legislation that would help the regional forest service monitor and fine people who are illegally logging and exporting timber to China. Right now the ability to inspect timber shipments lies with the tax and customs authorities and is out of the Forest Service's jurisdiction..." (Danielle Knight, ENVIRONMENT-RUSSIA: China's Demand for Timber Fuels Clear-cutting in Siberia, InterPress Service, July 27, 2000).
Proposal to cut 667,000 acres of Nicaragua's Mosquito coast was rejected by the Nicaraguan government in January 1992 (World Rainforest Report, Feb. 1992, p. 19-20, and April-June 1992; San Francisco Chronicle, Dec. 19, 1991).
ERLY JUICE see Kraft
Sell South African coal to EPDC (Mining Magazine, Aug. 1991, p. 105).
"Hungary is blaming Romania for a Jan. 31 cyanide spill in the Tisza River that is threatening drinking water supplies. Gabor Horvath, spokesman for the Hungarian Foreign Ministry, called the spill an "unprecedentedly serious environmental catastrophe" and said Hungary would seek restitution from Romania. The spill has killed fish, birds and other wildlife and forced towns along the river to close their water intake systems. The pollution was expected yesterday to reach the Hungarian city of Szolnok, which gets all of its drinking water from the Tisza. Hungarian environmental expert Zoltan Varga said the damage from the spill might be more serious than news reports have suggested. He noted that some fish and insect species may be wiped out. Romanian Environment Ministry General Manager Liliana Mara said the spill occurred when a protective wall of a dam at the Aurul gold smelter in northern Romania was damaged by massive snowfall. Mara said cyanide levels recorded in the river after the spill were 700 times higher than normal but that the situation was now under "total control" (Greenwire, Feb 9, 2000, citing Reuters/PlanetArk, Feb. 9).
"Romania and Hungary will seek compensation and international help to cope with the continuing effects of a cyanide spill that has contaminated several rivers in their countries and Serbia. The spill occurred about 10 days ago when a dam at the Aurul gold mine in northern Romania was overwhelmed by heavy rain and snow. The BBC reports that fish in the Tisza River, which flows into the Danube, have been "devastated" by the spill, which also threatens drinking water supplies. However, no human health problems have been reported. Hungarian Environment Minister Pal Pepo and Romanian Environment Minister Anton Vlad met yesterday to discuss ways of monitoring the spill and seeking compensation. The mine is owned 50% by Esmeralda Exploration of Australia and 50% by the Romanian government. Esmeralda documented a number of environmental problems at the Aurul site in its last annual report (). But Esmeralda Chair Brett Montgomery said he was skeptical of reports of massive environmental damage. Although he acknowledged that complete details were still unavailable, Montgomery said that based on the information in hand, "I can confidently say that the incident has been grossly exaggerated" (Greenwire, Feb 11, 2000, citing BBC Online, Feb. 11 and Reuters/CNN online, Feb. 10).
"The Baia Mare gold mine overflowed on Jan. 30, 2000 and caused cyanide to pour into tributaries of the Tisza. The polluted water flowed west into the Tisza in neighboring Hungary and then into Yugoslavia. The cyanide reached nonlethal levels once it reached the Danube River... Atila Juhas, mayor of the northern Yugoslav town of Senta, said 80 percent of the fish in the Tisza have died since the cyanide that spilled in Romania reached the country a few days ago. Istvan Backulin, the mayor of another affected town: "The Tisza is a dead river. All life in it, from algae to trout, has been destroyed. The spill is leaving nothing alive." Serbia said yesterday that it will seek compensation for the spill through an international court. Branislav Blazic, the Serbian environment minister, accused Romania of covering up the seriousness of the spill. Hungary has also demanded compensation" (Greenwire, Feb 14, 2000, citing (Misha Savic, AP/Philadelphia Inquirer/others, Feb. 13, BBC News online, Feb. 13).
"Romania, Hungary and Yugoslavia are dealing with the aftermath of a massive cyanide spill that occurred when a dam at the Baia Mare gold mine in Romania overflowed on Jan. 30. The cyanide has already killed nearly all life in the Tisza River, and the scope of the incident is being compared to the 1986 Chernobyl nuclear disaster. Hungary and Serbia have said they will seek compensation for environmental damage (Wright/Guzelova, Financial Times). But Hungarian Environment Minister Pepo Pal said the country would wait for the results of tests before deciding whether to ask Romania, or the company, Aurul SA, for compensation. Hungary and Romania began compensation discussions yesterday (Reuters/PlanetArk). But Romania also said it would not compensate any countries affected by the spill (Jovana Gec, AP/Boston Globe/others). A "toxic bullet" of the cyanide has contaminated 250 miles of rivers in Hungary and Yugoslavia, "killing millions of fish, shutting down water supplies and leaving a trail of aquatic devastation that will require years to repair" (Guy Gugliotta, Washington Post). The head of the environment committee in Hungary's parliament said the spill will "poison the whole food chain" for years to come (Alex Bandy, AP/San Francisco Chronicle/Examiner online, Feb. 14). The cyanide reached the Danube River, Europe's largest waterway, on Feb. 13, and "hundreds of dead fish" floated along its banks. But Zivka Ilic, Serbia's Deputy Agriculture Minister, said the spill will not pose a threat to towns along the Danube because the river will dilute the chemical (Reuters/PlanetArk). Some scientists agree, saying the spill "would most likely do little lasting damage" to the Danube because of its fast flow (Peter S. Green, International Herald Tribune). The Australian company blamed for the leak, Esmeralda Exploration, denied responsibility yesterday. Esmeralda spokesman Chris Codrington questioned whether cyanide was actually to blame because he saw televised footage of fish "still flapping" (Reuters/PlanetArk). Esmeralda owns half of Aurul, and is dispatching a team of experts "to prove its innocence" (Reuters/PlanetArk). > Cyanide Around The World Although cyanide "has been a boon to the mining industry," it has also been a "bane to the environment." Besides the spill in Romania, cyanide from mining operations has caused problems in South America and the United States. An official with the U.S. EPA said controls for cyanide mining in some places are inadequate (Mark Jaffe, Philadelphia Inquirer). > Reactions Abound Donella Meadows, an adjunct professor at Dartmouth College and director of the Sustainability Institute, writes in a Philadelphia Inquirerop-ed about what the cyanide spill means for globalization efforts. Meadows: "You can see why Hungarians -- and New Guineans and other people who have had to live with cyanide and other kinds of spills -- might come to believe that, whatever is intended, what globalization really means is carelessness, unaccountability, greed and destruction." Stephen D'Esposito, president of the Mineral Policy Center: "This will join the ranks of the Summitville Spill in Colorado (1993), the Omai Disaster in Guyana (1995), and the tragic cyanide spill outside of the Kumtor Mine in Kyrgyzstan (1998) as one of the industry's worst. And before it is over, this spill's trail of environmental devastation may unfortunately outpace all others" (MPC release, Feb. 14). Gyorgy Gado, World Wildlife Fund's Hungary conservation director, called on the governments of Hungary and Romania to act quickly. Gado: "We first need to ... properly assess the level of the damage; secondly implement a recovery plan, and thirdly start looking at what needs to be done to prevent similar accidents in the future" (WWF release). (Greenwire, Feb 15, 2000).
Donella Meadows, Cyanide Spill: What Globalization Really Means Is Carelessness, Unaccountability, Greed And Destruction, Philadelphia Inquirer, Feb 15, 2000, http://www.phillynews.com/inquirer/2000/Feb/15/opinion/MEADOWS15.htm
"The U.N. Environmental Program (UNEP) says the level of contamination in the Danube River following a cyanide spill from the Baia Mare gold mine in Romania last month is not an immediate threat to drinking water. Yet the agency announced that tests indicate cyanide concentration slightly above recommended safe levels, and recommended close monitoring of the situation. A team of eight experts took 18 water samples from the Danube last week and reported that one site had a concentration of cyanide that exceeded the safety limit for drinking water (U.N. release, Feb. 21). Serbia's agriculture minister on Feb. 18 revoked its ban on drinking water from the Danube and Tisza rivers, but the Romanian Environment Ministry said earlier in the day that contamination levels of cyanide and heavy metals in the Danube were three times the acceptable amount allowed by the European Union. According to the AP, it was not clear whether the reports from Serbia and the United Nations conflicted with those from Romania or if different testing standards were being used (AP/Dallas Morning News, Feb. 19). The toxic spill plunged 100 tons of cyanide and heavy metals into Romania's Lapus and Somes rivers, affecting Hungary's Tisza River and the Danube in Yugoslavia. The World Wildlife Fund said on Feb. 18 that cyanide levels in some wells is 60 times above what is considered safe (WWF release, Feb. 18). The WWF says it will tell the mining industry and the European Commission at a meeting tomorrow in Brussels that the toxic spill was predictable and preventable (WWF release, Feb. 22). In response to the spill, the World Health Organization (WHO) on Feb. 18 urged states to adopt international safety provisions to protect drinking water from industrial pollution. "While the headlines are all about cyanide, we already know that elevated heavy metal concentrations including copper and lead are being detected and this may have additional impact on human health," said Dr. Gunter Klein, director of the WHO's department for environment and health (U.N. Newservice, Feb. 18)." (all from Greenwire, February 22, 2000).
"Only weeks after a mine tailings spill contaminated the Tisza River, a new spill at a Romanian mine is sending thousands of tons of heavy metals downstream. Heavy rains and melting snow on March 26 caused a containment dam at the Baia Borsa mine in northwest Romania to break for the second time this month, allowing contaminated water to escape. Concentrations of lead in the Tisza River, a tributary of the Danube, were double the European Union's safety norms this week, the Romanian environment ministry reported. The ministry blamed the operators of Baia Borsa, saying they had failed to properly mend the damage from the first spill. This week's spill is the latest in a series of river pollution incidents in Romania this year. In January, a cyanide spill at a gold mine in the same region contaminated three Balkan rivers and the Danube, killing wildlife and poisoning regional water supplies (AP/Nando.net, March 28)." (Greenwire, March 29, 2000).
Hungary to sue Aurul (Dec.5, 2001) Bloomberg news agency reports from Budapest that Hungary has filed a lawsuit against Aurul SA, jointly-owned by Esmeralda Exploration Ltd and the Romanian Government's state mining company. Hungary's Magyar Hirlap reports that Hungary alleges that Aurul was responsible for a cyanide spill into a tributary of the River Tisza in Romania in February last year that killed fish and livestock in the Tisza over the border in Hungary (MJ, February 18,2000, p.121). Auru) denies liability for the tailings spillage from the Baia Mare tailings retreatment facility. The case will be heard from December 4. (http://www.min-eng.com/enviro_recent.html accessed Dec 12, 2001).
ESSO see Exxon
Builds espionage equipment for the Pentagon and the CIA; has $1.6 billion under contract. In 1975, E-Systems bought Air Asia, part oif the CIA's Air America (New York Times, May 17, 1993, p. A1).
Richmond VA 23219-4304
Ethyl Gas Corporation was formed in 1924 by the Du Pont-controlled General Motors and Standard Oil of New Jersey to market leaded gasoline; by late 1924 80 percent of the Ethyl workers at Dup Pont and Standard Oil plants had been killed or severely poisoned; hearings were held by the U.S. Surgeon General, but leaded gasoline was not banned for another 50 years; GM went on to produce cars that would run only on leaded gasoline (Moore, Curtis, Du Pont's Duplicity: Profiting at the Planet'ss Expense, Multinational Monitor, Mar. 1990).
Controlled by the Gottwald family. Ethyl Corporation derives three quarters of its sales of $1 billion from tetraethyl lead additives for gasoline; the decline of leaded gasoline led Ethyl to diversify. Ethyl shut down its tetraethyl lead plants, and now gets its supply from Octel, a subsidiary of Great Lakes Chemical. Ethyl Cororation spin-offs include Tredegar Industries (1989; aluminum, plastics, and energy); First Colony (1993; insurance); and Albemarle (1994; specialty chemicals) (Forbes, July 18, 1994, p. 48, 53). Ethyl subsidiaries include Whitby (pharmaceuticals).
In September 1993, Ethyl planned "to spin off to shareholders about $1.12 billion in chemical assets as an independent, publicly traded company. The as-yet-unnamed chemical company will have 1993 sales of about $955 million and 3,900 employees, Ethyl said... Ethyl [added] that it expects the new company will raise $100 million in capital, most likely through a private placement of stock with the Gottwald family, which already owns about 18% of Ethyl. The private placement would make the family majority owners of the new company, a spokesman said. The new company will include a grab bag of industrial and specialty chemicals, as well as pharmaceutical ingredients and the aspirin substitute ibuprofen (McMurray, Scott, Ethyl to split by spinning off chemical assets, Wall Street Journal, Sept. 17, 1993p. A4).
See discussion of Ethyl Corporation's former plant at Sarnia, Ontario, Canada (Multinational Monitor, July/Aug. 1991). See also Du Pont and Octel.
Huet Holdings signed a contract with Komi Republic of European Russia to buy 49 percent of four Komi logging companies and 39 percent of a fifth; Huet will get a 19,000 square kilometer, 40-year concession. The concession is near the Pechoro (River)-Ilych Biosphere Reserve, one of the few remaining undisturbed boreal forest areas of Europe, and created in 1930. Huet is being aided by Banque Lazard, Eurobank; Jaako Poyry wrote a forestry plan that would reduce buffer protection to the Biosphere Reserve. Most of the timber is to be exported (Taiga News, Jan. 1994, p. 3).
EXOTIC WOODS INC.
1401 W. Artesia Blvd, Compton, CA 90220
Mahogany, rosewood and teak plywood and veneer (Directory of the Forest Products Industry, 1988).
EXXON MOBIL click here for detailed profile
A "native" corporation established by the 1971 Alaska Native Claims Settlement Act. Owns half of Sherstone Logging, which has clearcut some 12,000 acres in Prince William Sound, and may cut another 80,000 acres. Has dealings with Hilton Hotels, the Del Webb real estate and development company, and Walgreen. See the profile of Eyak Corporation, "The Second Destruction of Prince William Sound," by Flidais Elise Wolf and Tom Modok Pearson, Earth Island Journal, Spring 1993, p. 30-31.