Anybody with even a cursory knowledge of energy markets can guess the biggest energy bankruptcy in history: That would be Enron, the former “energy trading” firm that used accounting fraud to achieve high share prices, media accolades, and small fortunes for a few key executives.
But even aside from Enron, the energy industry has had several bankruptcies that ran into the billions of dollars. A report in Oilprice.com compiles the 10 biggest energy company bankruptcies of all time, ranked by total assets.
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No single segment of the energy industry dominates list—besides Enron, the Oilprice list includes utilities, a major oil company, an offshore driller, coal miners, natural gas companies and a Chinese solar power firm.
Together they account for the “bankruptcies that will be etched into the tombstones of failed energy fortunes for time immemorial,” the report says.