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Essay text:
McKinsey & Co. was hired by then CEO, Kenneth Lay, to assist the business. Jeffrey Skilling was sent by McKinsey to assist Enron. This is when he developed the idea of creating a gas bank :
Enron would buy gas from a network of suppliers and sell
it to a network of consumers, contractually guaranteeing both
the supply and the price, charging fees for the transactions
and assuming the associated risk . The company would inter-
mediate between short-tern and long-term buyers and sellers
of natural gas. To guarantee
the supply Enron provided financing
to third party oil and gas producers ...
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