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The son of Senate Majority Leader Harry Reid (D-NV), Rory Reid, is the primary representative for ENN Energy Group, a Chinese energy company seeking to build a $5 billion solar panel plant on a 9,000-acre Clark County desert plot in Laughlin, Nevada.
ENN scored big when Clark County commissioners unanimously voted to sell the Chinese company the public land for just $4.5 million, despite the fact that it was appraised at $38.6 million.
Sen. Reid has been one of ENN’s biggest supporters, having recruited the company during a 2011 trip to China. According to Reuters, last month Sen. Reid tried to “pressure Nevada's largest power company, NV Energy, to sign up as ENN's first customer.”
Both Rory Reid and Harry Reid deny having ever discussed the $5 billion Chinese solar panel plant deal:
"I have never discussed the project with my father or his staff," said Rory Reid. Kristen Orthman, a spokeswoman for the senator, said he had not discussed the project with his son.
The station was created by amalgamating 12 floodplain properties to give Cubbie a total of 51 water licences. Its huge water storage dams stretch for more than 28 km along the Culgoa River, part of the Murray-Darling system. In an average year the Station uses 200,000 megaliters of water, in a good year as much as 500,000 megalitres.
[Clark] County officials say a statute allows governments to sell property for development at a below-market rate if the project creates jobs.
Back in the pre-Reagan days, American companies made profits that were distributed among Americans. They used their profits to build more factories, or diversify into other businesses. The profits stayed in America.
Today, foreigners awash with our consumer dollars are on a two-decades-long buying spree. The UK's BP bought Amoco for $48 billion - now Amoco's profits go to England. Deutsche Telekom bought VoiceStream Wireless, so their profits go to Germany, which is where most of the profits from Random House, Allied Signal, Chrysler, Doubleday, Cyprus Amax's US Coal Mining Operations, GTE/Sylvania, and Westinghouse's Power Generation profits go as well. Ralston Purina's profits go to Switzerland, along with Gerber's; TransAmerica's profits go to The Netherlands, while John Hancock Insurance's profits go to Canada. Even American Bankers Insurance Group is owned now by Fortis AG in Belgium.
Foreign companies are buying up our water systems, our power generating systems, our mines, and our few remaining factories. All because "flat world" so-called "free trade" policies have turned us from a nation of wealthy producers into a nation of indebted consumers, leaving the world awash in dollars that are most easily used to buy off big chunks of America. As www.economyincrisis.com notes, US Government statistics indicate the following percentages of foreign ownership of American industry:
� Sound recording industries - 97% � Commodity contracts dealing and brokerage - 79% � Motion picture and sound recording industries - 75% � Metal ore mining - 65% � Motion picture and video industries - 64% � Wineries and distilleries - 64% � Database, directory, and other publishers - 63% � Book publishers - 63% � Cement, concrete, lime, and gypsum product - 62% � Engine, turbine and power transmission equipment - 57% � Rubber product - 53% � Nonmetallic mineral product manufacturing - 53% � Plastics and rubber products manufacturing - 52% � Plastics product - 51% � Other insurance related activities - 51% � Boiler, tank, and shipping container - 50% � Glass and glass product - 48% � Coal mining - 48% � Sugar and confectionery product - 48% � Nonmetallic mineral mining and quarrying - 47% � Advertising and related services - 41% � Pharmaceutical and medicine - 40% � Clay, refractory, and other nonmetallic mineral products - 40% � Securities brokerage - 38% � Other general purpose machinery - 37% � Audio and video equipment mfg and reproducing magnetic and optical media - 36% � Support activities for mining - 36% � Soap, cleaning compound, and toilet preparation - 32% � Chemical manufacturing - 30% � Industrial machinery - 30% � Securities, commodity contracts, and other financial investments and related activities - 30% � Other food - 29% � Motor vehicles and parts - 29% � Machinery manufacturing - 28% � Other electrical equipment and component - 28% � Securities and commodity exchanges and other financial investment activities - 27% � Architectural, engineering, and related services - 26% � Credit card issuing and other consumer credit - 26% � Petroleum refineries (including integrated) - 25% � Navigational, measuring, electromedical, and control instruments - 25% � Petroleum and coal products manufacturing - 25% � Transportation equipment manufacturing - 25% � Commercial and service industry machinery - 25% � Basic chemical - 24% � Investment banking and securities dealing - 24% � Semiconductor and other electronic component - 23% � Paint, coating, and adhesive - 22% � Printing and related support activities - 21% � Chemical product and preparation - 20% � Iron, steel mills, and steel products - 20% � Agriculture, construction, and mining machinery - 20% � Publishing industries - 20% � Medical equipment and supplies - 20%