In January 2014, Estonian journalist Andres Raid of Talinna TV travelled to Utah to investigate his nation’s energy company’s Utah project. What he found was barely a sham test pit and nothing more going on, a scandal of great proportions for his Estonian people.
Estonian’s utility prices have soared under Eesti Energia’s current leadership, debt has gone from €300m in 2011 to €600m today, a balance that credit agencies have noticed. Criticizing Enefit/Eesti Energia’s foolish investments overseas and the expansive debt growth, credit agencies have lower Enefit’s credit rating.
Moreever, Enefit’s test plant in Estonia of turning oil shale into liquid fuel has been a complete waste of time effort and money. So-called Enefit 280–the technology the company claims it will use in Utah, Jordan and elsewhere–isn’t working. A huge plant in Estonia is built but not operational.
Since Raid’s reporting these last two months, sources inside Enefit have told journalists that the Utah oil shale project is on hold indefinitely. But then a Utahn employed by Enefit as a PR flack says that is untrue.
So what is the truth, Enefit? Why don’t you start giving people some answers about Enefit 280, about your soaring debt, about your complete lack of experience turning oil shale into liquid fuel, about the completely disappointing German test results regarding Utah oil shale. Tell us the truth, Enefit–Utahns and Estonians both deserve to hear it.
(You can watch Andres Raid’s story about Enefit’s Utah oil shale project here).