"Neither did Chuck Moore and he was, and is a big part of the problem. Burned up 40 million or more on Green Arrays project."
I don't know of the accuracy or source of your $40M number, but assuming it's anywhere in that neighborhood, it gives us some things to think about.
Most of us have adopted the attitude of "poor Chuck, he got swindled by TPL". But look at the situation from TPL's perspective. TPL/Moore got the other half of the MMP revenues (less Alliacense expenses). But for simplicity sake, let's just use the $125M number. Assuming TPL's tax rate would be similar to PTSC's current tax rate of near 45% (ignoring any credits), some $56M went just to taxes.
Assuming some accuracy of the above info, $40M went to fund, essentially, Moore's pet projects (if I understand correctly). What has been the return on that $40M investment? If you were in TPL's shoes, wouldn't you be a bit frustrated? Who swindled whom? Meanwhile, Moore's off to Tahoe building houses, toting wood, and taking hikes, and insisting that TPL owe's him money. After $40M, if I were TPL, I'd find the latter tough to swallow too.
I won't be surprised if the above is flawed in multple respects. But IMO there is some meat in what I've suggested. Never thought I'd be the least bit sympathetic to TPL! But my level of sympathy is exactly "the least bit".
FWIW,
SGE
