About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

4 Hous. Bus. & Tax L.J. 1 (2004)

handle is hein.journals/houbtalj4 and id is 1 raw text is: COPYRIGHT 0 2004 HOUSTON BUSINESS AND TAX LAW JOURNAL ALL RIGHTS RESERVED CAN ENERGY MARKETS BE TRUSTED? THE EFFECT OF THE RISE AND FALL OF ENRON ON ENERGY MARKETS Jacqueline Lang Weaver* TABLE OF CONTENTS I. INTRODUCTION ............................................................. 2 II. WHAT ENRON DID: THE BEST OF COMPANIES- THE WORST OF COMPANIES ................. 6 A. In the Beginning: the Landscape Before D eregulation ................................................................ 6 B. Shortages and Inefficiency ......................................... 8 C. Electricity Deregulation Begins .................................. 11 D. Enron: The Next Big Idea .......................................... 16 E. Enron's Fall: What Went Wrong ................................ 21 III. ENRON AND THE CALIFORNIA ENERGY CRISIS ....... 25 A.A. White Professor of Law, University of Houston Law Center. Copyright by Jacqueline Lang Weaver. The author thanks Peter Egler, Research Librarian at the A.L. O'Quinn Law Library and Ryan LaRue, class of 2004, for their outstanding research assistance for this article. She also thanks the following reviewers for their substantial time commitment and perceptive comments on a prior draft of this manuscript: Professor Fred Bosselman, Chicago-Kent School of Law, Professor Roger Sherman, University of Houston Economics Department, Professor David B. Spence, McCombs School of Business at the University of Texas; Professor Darren Bush, Assistant Professor at the University of Houston Law Center; and Alan Raymond, former president and CEO of Shell Energy Services Company. Dr. Gurgen Gulen of the Institute for Energy, Law & Enterprise at the University of Houston Law Center provided comments on sections of the article. Julia Hernandez, class of 2003, provided excellent editing assistance. Angela Tao, Senior Articles Editor of the Houston Business and Tax Law Journal did superb work on citation form for the entire article. The author also thanks the students in her Energy Law class in Spring 2002 who tracked and discussed developments in the California energy markets with diligence, enthusiasm and a healthy skepticism: Dessi Angelkov, Terese Carr, Tanya Coate, Julie Countiss-Wells, David Hartnett, Meg Healy, Michelle Lewis, Timothy Nebel, Jason Derrick Price, Shawn Slack, Brad Soshea, Luis Suarez, Stephanie Urbano, Kevin Wilson, and Vivien (Yuan-Lin) Yang. Kirk K. Weaver and Dr. Usha Shah also provided invaluable assistance and encouragement, as did Associate Dean Seth Chandler. The University of Houston Law Foundation provided research grants to support this work. Excerpts from this article have been published as chapters in ENRON: CORPORATE FIASCOS AND THEIR IMPLICATIONS (Nancy B. Rapoport & Bala G. Dharan, eds. 2003) with the permission of the author and the Houston Business and Tax Law Journal. A note to readers: Sources followed by the notation (ECP online) are printed from Energy Central Professional, an online source that aggregates energy news from hundreds of different daily newspapers and trade publications. Copies of the ECP articles and articles from other online sources are in the author's files.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most