CMP and the Spanish Connection

Posted: 12/12/2007 in Uncategorized
Tags: , ,
Many posts ago I mentioned a proposed sale of Energy East to a Spanish company called Iberdrola. It appears the sale will be going through. Yet another American company going to foreign investors. It’s bad enough that Energy East has a monopoly on electrical service in Maine, without our money having to go offshore to bolster some other countries well being. And I say this because Spain has a Socialist form of government and most of what they take in will be going to taxes in support of that government. In case you are not aware of it, Energy East owns Central Maine Power.

That’s OK you may say. After all, the government stepped in and made CMP divest of its power producing facilities in order to prevent the CMP monopoly from becoming too strong. The problem was solved when Florida Power and Light purchased all of CMP’s dams and hydroelectric and fossil fuel electrical production operations. Did you know that Energy East owns FPL? They own a bunch of other companies that affect us here in Maine as well, but I’m sure you get my point.

I sometimes wonder why Mainers don’t get more offended by the slow incursion of foreign domination to our business environment. But then, I look at the ratio of sports and gibberish headlines on the ‘news’ and realize that it’s because most people do not realize what’s going on behind the scenes. Maybe we should change that.

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