Quotes
 I`ve not only pursued the American dream, I`ve achieved it. I suppose we could say the last few years, I`ve also achieved the American nightmare. But indeed a market like California is not good for Enron.
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Am I a fool? I don`t think I`m a fool. But I think I sure was fooled.
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Trillions of dollars every day are being exchanged around the world in all of the financial markets.
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But I can`t take responsibility for criminal conduct of somebody inside the company.
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The problems in California have been that it`s been very difficult to site and build new power plants.
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Today, there are also buyers and sellers of all these energy commodities, just like there are buyers and sellers of food commodities and many other commodities.
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When you have a monopoly franchise player exercising their market power, then usually we`re out on the other side of those issues.
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There are absolutely no problems that had anything to do with Jeff`s departure.
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We`ve tried to get as much supply into California as we can.
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I have faith in the market when we get the rules right.
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Any slots at the senior level, including CEO or other slots, will be filled internally.
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The last thing I would have ever expected to happen to me in my life would be that, in fact, I would be accused of doing something wrong and maybe even something criminal.
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Jeff knew full well what he was walking away from. Again, he needed to deal with this right away.
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The transmission systems are still regulated.
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Well, rates would go up whether you deregulate or not, and of course, the rates that are going up right now on the electricity side are still within the regulated framework.
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I take full responsibility for what happened at Enron. But saying that, I know in my mind that I did nothing criminal.
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Every market is in transition.
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We need someone who is a strong representative of our value system.
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I don`t think I`m a criminal, number one.
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They can`t do without electricity. They can do with less electricity.
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I`ve been a strong financial and political supporter of, first, President Bush Sr. when he was running for president, and even when he ran for president a time or two and failed.
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We use competitive markets to arrange for delivery of our food supply.
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I mean, our primary businesses in wholesale pipelines, utilities, retail, were all doing extremely well.
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There are no accounting issues, no trading issues, no reserve issues, no previously unknown problem issues.
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We see ourselves as first helping to open up markets to competition.
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Investors don`t like uncertainty.
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In the case of Enron, we balance our positions all the time.
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We don`t break the law.
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But the most important thing is, Enron did not cause the California crisis.
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When there`s uncertainty they always think there`s another shoe to fall. There is no other shoe to fall.
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But we have very, very narrow limits on all of our buying and selling of all of our commodities worldwide; different kinds of terms, etc.
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But certainly I didn`t know he was doing anything that was criminal.
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Our liquidity is fine. As a matter of fact, it`s better than fine. It`s strong.
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You`d rather have a surplus versus a shortage in your position.
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I have to take responsibility for anything that happened within its businesses.
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You`ll have lower prices under deregulation than you will through regulation.
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