Gaza Deal Typical Of Enron View Of Risk

The idea of a $140m 136 megawatt power station providing electricity to 136,000 people looked like a sure winner to executives at Enron.

The fact that the station was to be located in the Gaza Strip and that one of the investors in the project may have had links to a company founded by Osama Bin Laden's father did not appear to dampen Enron's enthusiasm for the project.

18 months after the plant should have been operational, construction of the project has stalled.

Stuart E. Eizenstat, undersecretary of the Treasury during Clinton's administration, said that 'the politics in the Middle East overwhelmed the economics.'

Although executives at Enron still hope that something may come of the deal, nevertheless the whole project appears to typify the degree of risk former Enron executives were prepared to sanction in their quest for world domination.