When Marcos left the Bataan Nuclear Power Plant (BNPP) was ready for operation. Cory influenced by the Lopezes decided to shelve the project costing the Philippines about $2 billion and the power crisis of 1990’s.
Then Cory gave Meralco back to the Lopezes for free. The Marcos regime paid the Lopezes for the utilities. This is why Kris Aquino must always have a show.
The same modus operandi was done to PNOC-EDC the government owned geothermal power corporation. That’s where my late wife worked for over 15 years.
Marcos’ advice to Cory Aquino on the Bataan Nuclear Power Plant
AUGUST 21, 1971 ANOTHER BETRAYAL
By shelving BNPP, the Philippines had to rely on generators. Aboitiz had the exclusive contract to import generators while Wigberto Tanada was the Custom Commissioner. Later Bobby Tanada as blue ribbon chair would refuse to finish the senate investigation of the Plaza Miranda bombing knowing that Ninoy Aquino was behind the bombing of his own party.
Below is the first page of my late wife’s paper as part of her MASTER IN SCIENCE IN PETROLEUM ENGINEERING at STANFORD UNIVERSITY. I’ve added the second page, Roland Horne’s certification. Roland later became the Dean of Petroleum Engineering.
MGM Stanford MS Paper March 1991 p.1 & 2
It was only when Aquino III went to New Zealand and cut a deal for the Philippine businesses that I learned Paul Aquino, the younger brother of Ninoy Aquino was in charge of privatization of PNOC-EDC where Elena work. “Smart Paul” sold the government energy companies to the Lopezes at dirt cheap prices.
Another Betrayal. What do you expect from the Aquinos?
Paul A. Aquino “Be outward-looking”
WRITTEN BY CARLA PARAS-SISON MONDAY, 16 FEBRUARY 2009 15:42
http://lopezlink.ph/component/content/article/38-executive-feature/59-executive-feature
PHOTO – Paul A. Aquino – Geothermal Magnate
PAUL A. Aquino, president of Energy Development Corporation (EDC) since 2004, oversaw the company’s successful privatization. his included EDC’s initial public ofering in December 2006 and the purchase of First Gen Corporation of a controlling stake in November 2007.
A professional manager and former stockbroker appointed by government, Aquino reduced EDC’s manpower count from 4,000 to 2,700 and instituted changes to prepare the company for a smooth turnover to private hands.
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So people lost their jobs. And then the government sold it to the Lopezes.
Presidential Uncle Paul Aquino claims to be the geothermal magnate