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Reply #52: Remember "Covert Action Information Bulletin"? They pegged BFEE in '92. [View All]

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Octafish Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Aug-21-05 10:29 AM
Response to Reply #27
52. Remember "Covert Action Information Bulletin"? They pegged BFEE in '92.
Now hard-to-find, CAIB was an anti-Imperialistic screed co-founded by Phillip Agee, the rogue CIA guy who got tired of the treason perpetrated by the Agency's leadership. Prime beneficiaries of which are the Bushes, the family that "preys" together.

Writer Jack Colhoun's must-read goes on to talk about what was known in 1992. Gee. So much Bush family criminality, let alone treason, has gone down since then...

The Family That Preys Together -

the Bush Family

by Jack Colhoun
CovertAction Quarterly, 1992
excerpted from the book
Covert Action
edited by Ellen Ray and William H. Schaap

George Jr.'s BCCI Connection

"This is an incredible deal, unbelievable for this small company," analyst Charles Strain told Forbes magazine, describing the oil production sharing agreement the Harken Energy Corporation signed in January 1990 with Bahrain.

Under the terms of the deal, Harken was given the exclusive right to explore for gas and oil off the shores of the Gulf island nation. If gas or oil were found in waters near two of the world's largest gas and oil fields Harken wouldhave exclusive marketing and transportation rights for the energy resources. Truly an "incredible deal" for a company that had never drilled an offshore well.

Strain failed to point out, however, the one fact that puts the Harken deal in focus: George W. Bush, the eldest son of George and Barbara Bush of 1600 Pennsylvania Avenue, Washington, D.C., is a member of Harken's board of directors, a consultant and a stockholder in the Texas-based company. In light of this connection, the deal makes more sense.

The involvement of Junior - George Walker Bush's childhood nickname-with Harken is a walking conflict of interest. His relationship to President Bush, rather than any business acumen, made him a valuable asset for Harken, the Republican Party benefactors, Middle East oil sheikhs and covert operators who played a part in Harken's Bahrain deal. In fact Junior's track record as an oilman is pretty dismal. He began his career in Midland, Texas, in the mid-1970s when he founded Arbusto Energy, Inc. When oil prices dropped in the early 1980s, Arbusto fell upon hard times. Junior was only rescued from business failure when his company was

purchased by Spectrum 7 Energy Corporation, a small oil firm owned by William DeWitt and Mercer Reynolds. As part of the September 1984 deal, Bush became Spectrum 7's president and was given a 13.6 percent share in the company's stock. Oil prices stayed low and within two years, Spectrum 7 was in trouble.

In the six months before Spectrum 7 was acquired by Harken in 1986, it had lost $400,000. In the buy out deal, George "Jr." and his partners were given more than $2 million worth of Harken stock for the 180-well operation. Made a director and hired as a "consultant" to Harken, Junior received another $600,000 of Harken stock and has been paid between $42,000 and $120,000 a year since 1986.


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Most important: You're welcome, lonestarnot! Thanks for giving a damn and thanks also for caring about all of us.
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