HARBINGER'S CITIGROUP RECOMMENDS INVESTING IN PEMEX now

Citigroup recommends investment in Mexican oil giant Oil Online Banking giant Citigroup recommends investment in Mexican state-run oil company Petroleos Mexicanos (Pemex) via its dollar-denominated bonds. ... See all stories on this topic

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Mexican federal police raided the headquarters of state oil monopoly Pemex on Wednesday

The Oil Drum | Drumbeat: July 30, 2009 By Leanan MEXICO CITY (Reuters) - Mexican federal police raided the headquarters of state oil monopoly Pemex on Wednesday in an investigation into rampant fuel theft that costs the company more than $2 billion a year, Pemex said. ... The Oil Drum - Discussions about... - http://www.theoildrum.com/frontpage

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Gulf of Mexico States, Washington D.C. and Mexico meet to discuss the Gulf of Mexico

FOR IMMEDIATE RELEASE    

TUESDAY, JULY 28, 2009

CONTACTS: TCEQ-- TERRY CLAWSON 512/239-0046

                         GOMA-- VALERIE KLEINSCHMIDT 251/861-2523

 

TCEQ CHAIRMAN ATTENDS GULF OF MEXICO MEETING

Gulf of Mexico Alliance Aims to Keep Gulf a Treasured Resource

The Gulf of Mexico Alliance (GOMA) will convene Aug. 4-6 in Mobile, Ala., to address the health of the Gulf Region, drawing a diverse array of representatives from the five Gulf states, Washington D.C., and Mexico. Participants will gather to discuss implementation of the 2009 Governors’ Action Plan which outlines key steps and priorities for the Alliance over the next five years. 

 

“This alliance is about increasing regional collaboration to enhance the ecological health of the Gulf of Mexico,” said Texas Commission on Environmental Quality Chairman Buddy Garcia.  “A clean, healthy Gulf is essential to all Texans, whether they enjoy the recreational opportunities it offers, or the economic strength it brings to our state.”

 

Signed and supported by each of the five Gulf State governors, the Governors’ Action Plan aims to enhance community resilience, promote environmental education, support habitat restoration, reduce nutrient inputs to coastal waters, mitigate impacts to water quality, and identify and characterize Gulf ecosystems. Taking on issues that matter to Gulf state citizens, the Alliance is focused on achieving real results for a healthy Gulf.

 

“Texas, along with the Alliance, recognizes the Gulf economy, ecosystem health and water quality as challenges for the Gulf Region,” said Garcia.  “By working to organize and implement accurate mapping, tide level predictions, resilient land use plans, and habitat conservation and restoration, the Alliance aims to increase communities’ ability to bounce back after storm events.”

 

Some other actions of the Alliance involve increasing awareness of the connection between the environment and our health by coordinating effective water quality testing and working together to evaluate algal blooms and mercury in Gulf fish.  The Alliance is working to decrease the dead/hypoxic zone by reducing nutrient inputs. Through the implementation of a Sediment Master Plan, dredged material will be used for the most crucial restoration projects.      

 

The second Governors’ Action Plan for Healthy & Resilient Coast builds upon the successes of the last and sets specific actions to be undertaken for a healthy economy and ecology for the Gulf of Mexico. The regional meeting enables federal, state, non-profit, business, education, and research members of the Alliance to come together to solidify a course of action for the next five years. To learn more go to www.gulfofmexicoalliance.org.

 

 

Only money sacred?

"LONDON - British mining giant Vedanta said Tuesday it is going ahead
with plans to mine a bauxite-rich hillside in Orissa considered sacred
land by local tribals, and urged two international NGOs to give up their
protest campaign.

"We are proceeding with the mining plans but there are still a few
permissions that need to be granted," Zoe Watt, a spokeswoman for
Vedanta Resources, told IANS after a high-profile protest at the Annual
General Meeting of shareholders in London Monday."

http://blog.taragana.com/n/vedanta-to-go-ahead-with-mining-sacred-orissa-hill-122669/

Grupo Mexico Revamps Asarco Plan In Bid For Creditor Support,David McLaughlin 27 July 2009

"....Grupo Mexico said Monday it wants to revamp its proposed reorganization plan for Asarco in a move to secure creditor backing....A federal bankruptcy judge in Texas earlier this month said creditors could begin voting on the plans, with a voting deadline of Aug. 5. Grupo Mexico will go back to court Tuesday...."

https://www.fis.dowjones.com/WebBlogs.aspx?aid=DJFDBR0020090727e57r000gp&ProductIDFromApplication=&r=wsjblog&s=djfdbr

And NO ONE is talking about the now public EPA-DOJ 1998 "confidential for settlement purposes only" document that revealed ASARCO burned illegal toxic wastes secretly for years for profit next to the Rio Grande.......

The Bankruptcy Court is not considering the liabilities from those secret toxic wastes spread over the Paso del Norte region.  The DOJ Bankruptcy Trustee has failed to require that the Court consider the liabilities from the secret toxic wastes.   The existence of these secret-wastes was CONCEALED and hidden away for eight years until an honest DOJ person released this document publicly.    This information is now in the public domain.  We know that the EPA said to the DOJ that ASARCO burned secret toxic wastes for years, for profit next to the Rio Grande (NYTimes 10/2006). 

How can this company go through Bankruptcy and the DOJ, the Court, and the EPA entirely ignore that the EPA proved massive amounts of secret toxic chemicals from both military and industrial sources were handled and burned by ASARCO in our community??

Our Rio Grande next to Asarco is the LOVE CANAL of our region.    110 years of contamination - nearly ten or more years of it being secret toxic wastes -- are now "buried" in the sediments and surrounding lands around the Rio Grande including the alluvium beneath the old American Canal.

Our State and Federal politicians are failing to ask what these toxic chemicals are.  Our community wants to know .

Mexican Miners' Strike Enters Second Year

Mexican Miners' Strike Enters Second Year, as Cross-Border ...
In These Times - Chicago,IL,USA

"The Cananea strike currently has extra significance to U.S. unions because of industry giant Grupo Mexico’s bid to take over Asarco, a bankrupt U.S. mining company that Grupo previously controlled as a subsidiary...The U.S. Department of Justice has opposed Grupo Mexico’s attempt to reclaim Asarco. Arizona, Texas and California-based members of the USW have had close contact with Cananea miners since they went on strike in July 2007..."

CHEJ Executive Director testimony to Superfund Briefing Committee

7/10/09
Congressional Briefing Looks at Benefits of Refinancing Superfund

This week, Lois Gibbs, CHEJ Executive Director presented the case for renewing Superfund polluter pays fees at a Congressional briefing sponsored by Rep. Blumenauer. Superfund sites are the most toxically polluted sites in the country. They endanger the health of local communities and inhibit economic growth. Read Lois’s full remarks here.

would just add that the ASARCO bankruptcy is a fraud, because the court is not considering the now-public "confidential-for-settlement-purposes-only-EPA-DOJ" document (signed secretly by Asarco in a confidential DOJ-Asarco agreement) proving that ASARCO burned toxic waste for profit secretly for years here -- next to the Rio Grande....

Citigroup comment on PEMEX....

Pemex Bond Yield Gap to Mexico Shrinks by 69% as Profit Outlook ...

"Pemex’s borrowing costs are coming down because the company and government are “interdependent,” Suarez said. “Pemex is cheap right now.”

The company’s second-quarter results, scheduled to be released tomorrow, improved as a surge in oil prices offset falling crude production and a rebound in the peso cut debt- servicing costs, said Arnulfo Rodriguez, head of fixed-income research at Citigroup’s Banamex unit in Mexico City."

 [Citigroup.... bond holder for ASARCO along with Harbinger group ... see: "Citigroup is an affiliate of Harbinger Capital Partners, a hedge fund manager. Citigroup and Harbinger are creditors in Asarco's pending bankruptcy proceeding. They are based in New York and together are owed $300 million." http://www.elpasotimes.com/news/ci_12806700 )

Grupo Mexico amends its Asarco reorganization plan

Grupo Mexico amends its Asarco reorganization plan
"MEXICO CITY, July 27 (Reuters) - Grupo Mexico has amended its reorganization plan for bankrupt U.S. subsidiary Asarco .....

Asarco said last week it would sell the Southern Copper shares won in the Brownsville decision and had already contacted more than 100 potential bidders.

But Grupo Mexico countered that the shares cannot be sold until the Brownsville appeal was decided. Grupo Mexico set aside $1.3 billion in an escrow account as a guarantee to creditors.....(Reporting by Mica Rosenberg, editing by Gerald E. McCormick)"

MEANWHILE THE USA FEDERAL DEPT. OF JUSTICE, THE USA FEDERAL EPA, and the ASARCO BANKRUPTCY COURT are IGNORING the now PUBLIC  EPA-DOJ Asarco confidential-for-settlement-purposes-only document that details how ASARCO deliberately and secretly burned toxic wastes for profit for nearly ten-years along the Rio Grande..... (NYTimes 10/2006).   

Asarco's attorney(s) state that this illegal activity never happened (?!?!) and that the GAO investigation proved it (The GAO investigation did not "investigate" Asarco" - that was not the purpose of that GAO report/investigation).   These attorney(s) are acting as if this now-public document was STILL SECRET.  

BY TOTALLY IGNORING THE ASARCO LIABILITIES FROM THE SECRET TOXIC-WASTES HANDLED AT ENCYCLE/ELPASO/E.HELENA,  ASARCO's CORPUS CHRISTI BANKRUPTCY is perpetuating a fraud.

THIS NEEDS CORRECTED BY HONEST PEOPLE IN OUR FEDERAL DOJ.   That formerly confidential for settlement purposes only document IS NOT CONFIDENTIAL ANY MORE.  IT IS NOW A PUBLIC DOCUMENT and the DOJ, EPA and Bankruptcy Court should be disclosing the secret toxic wastes.

THE COMMUNITY OF the Paso del Norte (El Paso, Sunland Park) plead with our Federal Government to deliver honest DOJ oversight of the Bankrupcty in Corpus Christi before it the powers-that-be get away with "cleaning up" ASARCO at the expense of ignoring the sick, the babies, the elderly and infirm of our region who depend upon their government to protect them.

ASARCO_Hearing_August_10

Case 05-21207 Document 11899 Filed in TXSB on 07/06/09 Page 330 of 341
"26.2 Confirmation Hearing.
Section 1128(a) of the Bankruptcy Code requires the court, after notice, to hold a hearing on
confirmation of a proposed plan. The Confirmation Hearing has been scheduled to commence on August 10, 2009 at
9:00 a.m. before the Honorable Richard S. Schmidt, United States Bankruptcy Judge for the Southern District of Texas, in
his courtroom located at 1133 N. Shoreline Blvd., Second Floor, Corpus Christi, Texas. In order to obtain the protections
of section 524(g) of the Bankruptcy Code, the Confirmation Order must be issued or affirmed by the District Court. Thus,
the Bankruptcy Court and the District Court may jointly conduct the Confirmation Hearing. Alternatively, if solely the
Bankruptcy Court conducts the Confirmation Hearing and enters the Confirmation Order, the Debtors shall ask the District
Court to affirm the Confirmation Order. The Confirmation Hearing may be adjourned from time to time without further
notice except for an announcement of the adjourned date made at the Confirmation Hearing or any subsequent adjourned
Confirmation Hearing.
Section 1128(b) of the Bankruptcy Code provides that any party in interest may object to confirmation
of a plan. Unless otherwise directed or permitted by the Bankruptcy Court, any objection to Confirmation of any of the
Plans must (a) be in writing; (b) conform to the Bankruptcy Rules; (c) set forth the name of the objecting party; (d)
identify the nature of Claims or Interests held or asserted by the objector against the Debtors’ Estates or property; (e) state
the basis for the objection and the specific grounds therefor; and (f) be filed with the clerk of the Bankruptcy Court,
together with proof of service, and served upon each of the following so as to be received in the offices of each such
Persons no later than July 29, 2009 at 4:00 p.m., Prevailing Central Time:

• (1) Jack L. Kinzie, Judith Ross, James RPrince, Baker Botts L.L.P., 2001 Ross Avenue, Dallas, Texas 75201-2980;
•  (2) Tony M. Davis, Mary Millwood GregoryBaker Botts L.L.P., One Shell Plaza, 910 Louisiana, Houston, Texas 77002-4995;
  
• (3) Shelby A. Jordan, Jordan, Hyden,Womble, Culbreth & Holzer, P.C., Suite 900, Bank of America, 500 North Shoreline, Corpus Christi, Texas 78471;
• (4) Robert E. Winter, Milbank, Tweed, Hadley & McCloy LLP, 1850 K. Street, 11th Floor, Washington, D.C. 20006
• (5) Robert Jay Moore, Milbank, Tweed, Hadley & McCloy LLP, 601 South Figueroa Street, 30th Floor, Los AngelesCalifornia 90017;
• (6) Charles A. Beckham, Jr., Trey Monsour, Haynes and Boone LLP, 1 Houston Center1221 McKinney, Suite 2100, Houston, Texas 77010;
  
• (7) James C. McCarroll, Reed Smith LLP, 599 Lexington Avenue29th Floor, New York, NY 10022;
•  (8) Paul M. Singer, Reed Smith LLP, 435 Sixth Avenue, Pittsburgh, PA 15219
• (9) Derek J. Baker, Reed Smith LLP, 2500 One Liberty Place, Philadelphia, PA 19103;
  
• (10) Sander L. Esserman, JacoNewton, Stutzman, Bromberg, Esserman & Plifka, 2323 Bryan Street, Suite 2200, Dallas, Texas 75201;
• (11) John HTate, II, Raymond W. Battaglia, Debra L. Innocenti, Oppenheimer, Blend, Harrison & Tate, Inc., 711 NavarroSixth Floor, San Antonio, Texas 78205;
  
• (12) David L. Dain and Alan S. Tenenbaum, United States Department of JusticeEnvironmental Enforcement Section, 601 D Street NW, Washington, DC 20004 (overnight mail only); [THE_PEOPLE_IGNORING_NOW-PUBLIC_"confidential-for-settlement-purposes--only"EPA_DOJ"73page_document??]
  
• (13) Douglas PBartner, Randy Martin, Shearman & Sterling LLP, 599 Lexington Avenue, New York, New York 10022;
  
• (14) Richard MSeltzer, Cohen, Weiss and Simon LLP, 330 West 42nd Street, New York, NY 10025; +
• (15) United States TrusteeAttn: Charles R. Sterbach, 606 N. Carancahua St., Ste. 1107, Corpus Christi, TX 78476; [THE_PEOPLE_IGNORING_NOW-PUBLIC_"confidential-for-settlement-purposes--only"EPA_DOJ"73page_document??]
• (16) Thomas Moers Mayer anGregory A. Horowitz, Kramer Levin Naftalis and Frankel LLP, 1177 Avenue of the Americas, New York, New York10036; and
  
• (17) Phillip L. Lamberson and J. Frasher Murphy, Winstead PC, 5400 Renaissance Tower, 1201 Elm StreetDallas, Texas 75270.

Letter to concerned citizens

http://www.scribd.com/doc/17463628/20061026-SPGEG-to-Gov-Richardson-With-Exhibits

Hi,

This letter asks about the ASARCO contamination, which we are all concerned about.  It was hand-delivered to the N.M. Governor in 2006 and again in 2008.  

I am copying Ron Curry NM Environmental Secretary on this email because he has also failed (like the Governor) to answer the questions presented in this letter -- and yet he is being considered as a new head of the EPA Region 6 (which includes both Texas and New Mexico)!  

In my opinion it would be wrong to have Sec. Curry run EPA Region 6 when he has sacrificed the community of Sunland Park for years to the Asarco contamination, and consistently failed to answer our questions.  Our community is increasingly concerned at the complete lack of concern for this contamination.   Our regional mobility authority (Mexico, NM and TX) has planned (and the MPO approved funds) to build an elevated toll-road right next to the contaminated ASARCO plant over our drinking/irrigation water open-canal so that the massive-planned-international community of San Jeronimo-Santa Teresa can be connected to the El Paso TX highway system. 

Appalling.

That elevated toll road would put pylons every 30 feet into the extremely contaminated (and fissured) ground to the depth of twenty feet.   Yet the secret poisons that the EPA told the Federal DOJ in 1998 ASARCO burned for profit-for-years have NOT BEEN DISCLOSED.   God only knows what is in that dirt and ground-water, that could get into our drinking water and irrigation water from such construction-activities!!

The San Jeronimo-Santa Teresa International City lies within a 15 mile contamination zone around the 110-year-old ASARCO plant  -- and, we know from ASARCO's Tacoma WA example that the contamination extended out 30 miles!!!

The people of Sunland Park and neighboring areas (I live in that area) would like their questions answered.  

Halliburton wins CONTRACT from Mexico PEMEX and the DOJ/EPA continue to ignore ASARCO illegal secret toxic wastes left in Paso del Norte Region

Halliburton Wins Mexico Drilling Contract Worth $169 Million Pemex ...

"Halliburton Wins Mexico Drilling Contract Worth $169 Million Pemex (Nasdaq). July 23rd, 2009 Posted in Archivos |. MEXICO CITY -(Dow Jones)- Oilfield services giant Halliburton Co. (HAL) has won a $169 million contract..."

20090719 SAIC whisteblower and DOJ begin investigation into SAIC illegal collusion over 3.2 billion $ contract

"A former employee, recently joined by the Department of Justice, has
filed a lawsuit in U.S. District Court for the Southern District of
Mississippi, alleging that Science Applications International
Corp....and others improperly colluded with government officials to
obtain a General Services Administration information technology contract
worth up to $3.2 billion. An investigation on behalf of current long
term investors of SAIC, Inc (Public, NYSE:SAI) was announced."
http://www.theopenpress.com/index.php?a=press&id=54049

SAIC is the EPA contractor that was called in to test at ASARCO-El Paso
years ago, when TCEQ said that the testing was beyond their
jurisdiction. SAIC carries very high level security clearance, and
advertises various products at shows, including fingerprint (biometrics)
I.D.

ASARCO Helena MT HANDLED THE SECRET TOXIC WASTE FOR YEARS AND NOW WILL REMOVE ITS STACKS BY EXPLOSIONS?!?!?!

Google News Alert for: asarco

Asarco smokestacks in Helena to be demolished | kxnet.com North ... KXMC - Minot,ND,USA AP Asarco environmental manager Jon Nickel says the company recently signed an agreement with the Cleveland Wrecking Co. to use explosives to take down the ... See all stories on this topic

[Fwd: Google Alert - asarco] Grupo Mexico quarterly net profit drops 47 pct

Google News Alert for: asarco

Grupo Mexico quarterly net profit drops 47 pct Reuters - USA "... mention the status of a continuing legal battle in the United States to regain control of its bankrupt US subsidiary, Arizona-based copper miner Asarco. ..." See all stories on this topic

"UPDATE 1-Asarco may SELL its award from Southern Copper [law]suit"

Asarco may sell its award from Southern Copper suit

"WILMINGTON, Delaware, July 20 (Reuters) - Bankrupt mining company Asarco may sell its multibillion-dollar court award stemming from a suit against its former parent and has contacted more than 100 potential bidders, according to court documents....Asarco said it has asked Barclays Capital Inc to evaluate the potential bids for the court award, which includes about $5 billion of the common stock in Southern Copper Corp...and about $1.4 billion in cash.....Asarco said most of the potential bidders were hedge funds [Harbinger is a hedge fund, for example] , private equity firms [Carlyle Group is a private equity firm, for example] or institutional investors...."

Residents next to ASARCO smelter long ago tried to demand Refrigerated Air rather than Evaporative Cooling, to eliminate open windows

Monica Perales December 2003 PhD dissertation "Smeltertown: a
biography of a mexican american community 1880-1973"

PAGE 295 "THAT ALL [Smeltertown]
RESIDENTS BE PROVIDED WITH AIR CONDITIONING SYSTEMS TO ELIMINATE THE USE
OF  OPEN WINDOWS AND DOORS FOR VENTILATION"  --- from a rpt by the El Paso Chemical
Laaboratories (conducting rpt for the health and environmental District -- not county).

'We have support of US government, unions on Asarco'

Press Trust of India / New Delhi July 19, 2009, 15:47 IST

"Anil AgarwalNRI billionaire Anil Agarwal-led Vedanta Resources today said it will not offer more than the already announced $1.87 billion to buy bankrupt American miner Asarco but is confident that it can clinch the deal with the support of the US government and the trade unions.

"We will not increase our bid in any circumstances. We believe we are well placed. The US government is with us, the trade union is with us," Vedanta Resources Chairman Anil Agarwal told PTI in an interview on the phone....

If the Asarco bid is lost, Agarwal said that he will look for other opportunities...."

http://www.business-standard.com/india/news/%5Cwe-have-supportus-govt-unionsasarco%5C/68194/on

Sterlite raises 1.5 Billion

Google News Alert for: asarco

Sterlite gets its US$1.5 billion in a day after US ADS offering Mineweb - London,England,UK India's Sterlite Industries is not only gaining a following among US Asarco creditors, as US investors and Asian investors, as well as parent Vedanta, ...

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" Vedanta's stake in Sterlite [is] 61.7%....Vedanta Chairman Anil Agarwal said the ADS issue is the first in a series of actions that would soon include acquisition of mining assets in Africa and Central America....India's Economic Times reported that a fourth of the ADS book was purchased by hedge fund investors with about 85 percent of demand coming from the U.S. and Asia."

Groundwater Arsenic at Asarco El Paso TX

To:  Mr. Sher
       Lorinda Gardner
cc:   SPGEG, GTLO, ACORN, Sierra Club
sb:   Arsenic in groundwater question

The TCEQ Asarco remediation website says that "...Currently, the highest concentration of arsenic in the groundwater occurs in onsite well EP-49 with a concentration of 62.5 mg/L, which is above the MCL for arsenic. This well is located on the east side of Paisano Drive. The area of contaminated groundwater is shown in Figure 2."

• I am confused why Well EP-49 is mentioned having a top concentration of 62.5 mg/L  but leaves out that  "above the MCL" is actually "6,200 times above the MCL.g "  (see: "The groundwater at the facility has arsenic, lead, and cadmium concentrations above the maximum contaminant level (MCL). ......The most prevalent COC in the groundwater is arsenic. Currently, the highest concentration of arsenic in the groundwater occurs in onsite well EP-49 with a concentration of 62.5 mg/L, which is approximately 6,200 times the MCL for arsenic. The area of contaminated groundwater is shown in Figure 5."

http://www.tceq.state.tx.us/assets/public/remediation/variousremediationsites/sher_asarco_expert_report.pdf"

Would you add those words to that webpage? (i.e. "6,200 times")

• Also, I am concerned that this Well EP-49 is being reported as having the max groundwater arsenic level when another map shows a well with 332.8571 mg/L level (see attached, and the figure at the bottom of this email.)  Why the discrepancy?
• In addition, we know that in a "May 14, 1999 sampling event, Asarco reported a concentration of 0.302 ppm for arsenic in the groundwater. The previous sampling event (February 25,1999) from the same well reported a concentration of 320 ppm for arsenic in the groundwater.  #EPRI-9905-118. On further review, well EP-49 has a sample identification.   Finding that sample identification in the lab sheets appendix, the lab reported a concentration of 302 ppm for arsenic in the groundwater. Please correct the table and incorporate a procedure to include well identification numbers corresponding to submitted plats on lab reports." (see attached 20011002 response)
  

This refers to the same well that you say has a max arsenic level of 62.5 mg/L -- yet the 2/25/99 sampling event for that well showed 302 ppm.

Would you explain this, please?

Thank you,