Everyone read last week about how Lou Pai, the stripper-lovin' ex-Enron exec who made off with $270 million before the crash, ponied up about $31 million in fines to settle his SEC case.
Which will probably affect the gentlemen's clubs in Colorado, where he lives now, for about a month or so.
There was no word on what the Pai-man is up to these days, but now we know: He's trying to corner the market on renewable energy.
Natural Gas Week, which isn't available online, reports that Pai is a major investor in Element Markets, a Houston-based company that, according to its website, "helps companies take full advantage of today’s environmental business opportunities—from credit trading to project development and technology commercialization."
The company deals in Renewable Energy Credits, a bookkeeping thing where energy companies can trade and buy energy from renewable resources.
"Pai's trying to corner the market on RECs," one energy executive told NGW.
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So the whole business of renewable energy may just get Enron-ed. We can't imagine a better way of solving the energy crisis.
Element Market's website, by the way, features shots of a wind farm under the link "wind," solar panels under the link "solar" and a cow under the link "methane capture."
So, we guess, Lou Pai is now getting deep into the business of cow farts.
-- Richard Connelly