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 Early 2001: Stock heading south
 Enron remains bullish but stock begins to slide

Enron and Kenneth Lay each donated $100,000 to incoming President Bush's inaugural committee fund, early in 2001. The incoming president invited Mr Lay to become and advisor to his transition team.

A prime concern for Enron was the new president's planned energy policy review, headed by Vice-President Dick Cheney.

Mr Lay and other Enron directors met Mr Cheney and others three times in the first half of the year, the last meeting a month before he published his conclusions on 17 May 2001.

The review, as predicted, was favourable to the energy industry. It advocated more power stations, more exploration and a national grid. While it did not meet all of Enron's wishes, it nevertheless was good news.

Click on the red dots on the graph for more detail.



 PRESIDENT BUSH'S ENERGY REVIEW
 Summary of recommendations, May 2001
Regulation Ease rules on new power stations. Review rules on refineries and coal power
Exploration/Distribution Open more land, including Artic refuge. More than 64,000 kilometres of new gas pipelines
Conservation Tax breaks for energy-efficient cars, solar panels and research
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