Posted January 17, 2002
Enron and the Bushes
by David Corn
When George W. Bush was first running for governor of Texas, Washington editor David Corn took a look at Bush family activities on behalf of Enron in Argentina--itself now suffering the results of untamed financial markets.
We reprint this November 21, 1994, article to show how Enron's connections with the Bushes stretch not just to Washington but around the world.
--The Editors
Several years ago, says Rodolfo Terragno, a former Argentine Cabinet Minister, he received a telephone call from George W. Bush, son of the then-Vice President. When he hung up, Terragno was annoyed, he recalls, for the younger Bush had tried to exploit his family name to pressure Terragno to award a contract worth hundreds of millions of dollars to Enron, an American firm close to the Bush clan.
During this past year, as George W. campaigned across Texas to replace Governor Ann Richards, he portrayed himself as a successful businessman who relied on "individual initiative," not his lineage. Contacted in Buenos Aires, Terragno, now a member of the Chamber of Deputies, offered an account that challenges Bush's campaign image.
In 1988, Terragno was the Minister of Public Works and Services in the government of President Raúl Alfonsín. He oversaw large industrial projects, and his government was considering construction of a pipeline to stretch across Argentina and transport natural gas to Chile. Several US firms were interested, including the Houston-based Enron, the largest natural gas pipeline company in the United States. But Terragno was upset with the corporation's representatives in Argentina. They were pressing Terragno for a deal in which the state-owned gas company would sell Enron natural gas at an extremely low price, and, he recalls, they pitched their project with a half-page proposal--one so insubstantial that Terragno couldn't take it seriously. Terragno let the Enron agents know he was not happy with them.
~snip~
In late August, several members of the Chamber of Deputies--Terragno not among them--submitted a request for information, calling on President Menem to answer dozens of questions about the business activities of the Bush family in Argentina. (In 1987, Neil Bush created a subsidiary of his oil company to conduct business there. In early August, a Buenos Aires newspaper reported that on a forthcoming trip to Argentina the former President would lobby the Menem government to allow a US company to build a casino there. The onetime President said this was not true.) One of the deputies' queries was, Does Menem know whether George W. Bush attempted to capitalize in Argentina on his father's position? So far Menem has not responded.
http://www.thenation.com/doc.mhtml?i=20020204&s=corn