Note: On this day in 2001, the politically correct, all-things-to-all-people Enron entered the workweek in bankruptcy. Monday December 2nd was my last day at the company after a 16-year career there, as it was for several thousand other employees.

Enron, a unique story of corporate strategy and governance gone wrong, has been misinterpreted by the Progressive mainstream. The company represented the failure of political capitalism, not market capitalism. Its lessons extend to image environmentalism and renewable energy hyperbole, as I document in my book series on the company, as well as in shorter articles.

Reprinted below for the historical record is an email from John Jennrich, founding editor of Natural Gas Week, to Enron author John Emshwiller and myself. Jennrich discusses Enron’s role in the development of the modern natural gas market.…

“Please note: Desert Report editors have retracted ‘The Silent Menace’ articles from both the June and September issues; our forthcoming December issue will cover the reasons why.” When the retraction took place during the second week of September, they hadn’t found an official excuse yet that they were comfortable publishing as an explanation….

… the formerly controversial topic of potential infrasound hazards associated with industrial wind turbines had been demonstrated by enough prestigious studies to be harmful beyond any level of doubt. As an environmental tribunal in Ontario, Canada officially explained, the issue was no longer one that questioned the harm but had evolved into a question of the degree of harm that industrial wind turbine–generated infrasound causes.

One of Murphy’s Laws states, “No good deed goes unpunished.” Along those lines, after working without any compensation for months to uncover the most revealing, current scholarly studies, and thought-provoking news reports on the known health hazards associated with infrasound from industrial wind turbines, a two-part series of articles that was written at the Sierra Club’s request was suddenly retracted from one of their club’s magazines.…

“Mr. Pickens was an early exponent of the peak oil theory, which held that the world would soon run out of oil to pump. The rise of fracking, which made hard-to-reach oil accessible, upended the theory.” (Washington Post, below)

“’It’s been valuable to have Boone as part of the team,’ said Carl Pope, who was executive director of the Sierra Club at the time, in response to the oilman’s backing of alternative energy sources. Former Vice President Al Gore also backed Mr. Pickens’s alternative energy campaign.” (New York Times, below)

Business leaders can help or hurt the capitalist system with their actions and rhetoric. Swashbuckling T. Boone Pickens (1928–2019) gained a reputation as a disrupter, shaking up a stodgy oil major (Gulf Oil, now part of Chevron), among others.…

“Mr. Pickens’s original vision had something for everyone. First he would build a wind farm in Texas with 2,700 turbines costing upward of $10 billion. That would pump power into the national grid, allowing huge amounts of natural gas to be diverted from power plants to newly equipped cars and trucks. The result, he promised, would be a sharp reduction in the country’s dependence on Middle East crude.”

“‘This to me is like a war without guns,’ says Mr. Pickens….” 

– Neil King, Pickens’s Windmills Tilt Against Market Realities, Wall Street Journal, January 13, 2009.

A decade ago, a rent-seeking, vainglorious Texas oil man named T. Boone Pickens spent tens of millions of dollars to promote what today might be called the Little Green Deal. It was nicely summarized in the Wall Street Journal at the time by Neil King, Pickens’s Windmills Tilt Against Market Realities.…