Before Going Bankrupt In 2001 Enron Corporation Was One

Before going bankrupt in 2001 Enron Corporation was one of the biggest incorporated natural gas and electricity companies on earth. It dealt with selling natural gas liquids worldwide, and operated one of the biggest natural gas transmission systems in the world. They had become one of the largest developers and producers of electricity in the world, and supplied industrial and evolving markets including individual consumers. Enron was a major dealer of solar and wind renewable energy globally, had a strong risk management service for a large collection of its natural gases contracts, and was one of the biggest oil and gas exploring companies around the world. They were the leading wholesale marketer of natural gas and electricity in the†¦show more content†¦Deregulation of the energy market left the big companies in the market of energy to control their operations and allowed them to sway the market in their favor. This influence over the market led Enron to fabricate elect ricity shortage, with that they were able to increase its demand, and then boost its price to profit more revenues. According to Public Citizen, â€Å"Enron and its chief executive officer, Kenneth Lay, have been remarkably successful in lobbying the executive branch, leaders in Congress and various federal regulatory officials to withdraw government monitoring of many corporate activities within domestic energy markets.† Additional, Public Citizen says that in deregulation, the ethics of transparency, accountability, and citizen oversights, which were major causes of downfall for Enron, are ignored, yet, they are crucial factors that ensure the market is operating well (Healy, 2003). Before deregulation energy contracts were negotiated under regulated trading laws, which required information on prices be reported including the amount that was traded. 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