Washington was preparing a revised offshore oil drilling moratorium and clean-up efforts in the Gulf of Mexico returned to normal on Friday.
High seas and winds kicked up by Hurricane Alex were propelling the landward advance of the far-flung oil slick.
A relief well that might divert the gushing Gulf of Mexico oil leak is still weeks from completion, a top United States official said on Wednesday.
Rough weather whipped up by the season’s first Atlantic hurricane is disrupting clean-up of the massive BP oil spill in the Gulf of Mexico.
Enron founder Kenneth Lay, who was convicted of helping perpetuate one of the most sprawling business frauds in United States history, died on Wednesday in Aspen, Colorado. He was 64. Lay died of a heart attack, his pastor in Houston said. ”Apparently, his heart simply gave out,” said Pastor Steve Wende of Houston’s First United Methodist Church.
So far in Enron founder Kenneth Lay’s fraud and conspiracy trial, a slew of prosecution witnesses have pointed the finger at him while a few — including his co-defendant, former chief executive Jeffrey Skilling — spoke up for him. On Monday, he aims to speak for himself.
A former Enron broadband unit executive faces cross-examination this week after damaging the defence with his testimony in the fraud and conspiracy trial of company founder Kenneth Lay and former CEO Jeffrey Skilling. Kevin Hannon told jurors that Skilling said ”They’re on to us” in a May 2001 meeting of top executives regarding a boutique analyst firm’s criticism.
Within weeks of dazzling Wall Street by lying about the capabilities of its new broadband network, Enron faced a daunting task in living up to the hype. Kenneth Rice, the former head of the defunct broadband unit, said pressure escalated further when Enron stock jumped to from within a day of an analysts conference in January 2000.
No image available
/ 18 February 2005
Unfriendly Russian courts and a European court that offers no protection drove embattled Russian oil company Yukos to seek help to regain solvency in a United States bankruptcy court, its lead lawyer said on Thursday. ”This is the last place that this company has to have the opportunity to survive as an ongoing concern,” said Yukos lawyer Zack Clement.
Two former Enron Corporation executives have been charged with fraud for using accounting tricks to generate -million in fake earnings from the bankrupt energy trader’s failed attempt to start an Internet movie-on-demand service.