The Family That Preys Together -
the Bush Family
by Jack Colhoun
CovertAction Quarterly, 1992
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 would have 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.
Junior's value to Harken soon became apparent when the company needed an infusion of cash in the spring of 1987. Junior and other Harken officials met with Jackson Stephens, head of Stephens, Inc., a large investment bank in Little Rock, Arkansas (Stephens made a $100,000 contribution to the Reagan-Bush campaign in 1980 and gave another $100,000 to the Bush dinner committee in 1990.)
CONTINUED...
http://www.thirdworldtraveler.com/CIA/Bush_Family_Preys_Together.html
Except now it's Vice President Joe Biden promoting fracking for Ukraine, as one of the interesting ways the US "would help Ukraine" after the coup.
Vice President Joe Biden Promotes U.S. as Fracking Missionary Force On Ukraine Trip
Then, Vice President Biden's son's company just got a huge new contract doing fracking.
Company In Which Joe Biden's Son Is Director Prepares To Drill Shale Gas In East Ukraine
Small world!
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