Tag Archives: Bechtel

Weapons of Mass Destruction Anyone?

(Excerpted from Chapter 14: Saddam’s Banker in Atlanta: Big Oil & Their Bankers…)

BNL was the main conduit through which General Motors had vehicle sales to Iraq financed.  A good chunk of Wall Street was using BNL in similar fashion. Continue reading

Bush League Criminals

(Excerpted from Chapter 14: Saddam’s Banker in Atlanta: Big Oil & Their Bankers…)

In 1984 Vice-President George Bush pressured Export-Import Bank (EIB) President William Draper into providing Saddam’s government with $1 billion in US taxpayer-backed loans for a pipeline project in Iraq. Continue reading

War Balances Books

(Excerpted from Chapter 12: The Gulf Oil War: Big Oil & Their Bankers…)

The record profits accrued by US corporations as a result of the Gulf War also served to offset the imbalance in US/GCC trade created by GCC oil revenue. Continue reading

Contracts For Vampires

(Excerpted from Chapter 12: The Gulf Oil War: Big Oil & Their Bankers…)

As oil historian Daniel Yergin put it, “What we had before the war was a special relationship with Saudi Arabia.  Now we have a more special relationship”.  Continue reading

Morgan Guaranty

1997-1-22-guatemala-tikal-face-carved-in-stone(Excerpted from Chapter 3: The House of Saud & JP Morgan: Big Oil & Their Bankers )

ARAMCO’s banker has always been Morgan Guaranty Trust.  The Saudi Arabian government keeps the bulk of its money at Morgan as well.  Morgan made loans to the Saudis based on oil revenues which the Saudis were receiving from ARAMCO, revenues which originated from Morgan ARAMCO accounts and were recycled back into Morgan Saudi accounts. Continue reading

Bechtel

1996-12- Clinton, MT - Clark Fork River in DecemberExcerpted from Chapter 3: The House of Saud & JP Morgan: Big Oil & Their Bankers…)

ARAMCO’s primary construction contractor is Bechtel, a shadowy San Francisco-based private company that is the largest engineering firm in the world. Continue reading

JP Morgan Chase & The Saudi Oil Colony

B112 Jill, Lydia and Scott, downtown Denver(Excerpted from Chapter 3: The House of Saud & JP Morgan: Big Oil & Their Bankers in the Persian Gulf…)

ARAMCO

With 261 billion barrels of crude oil lying beneath its soil, Saudi Arabia remains the lynchpin in the international oil grab presided over by the Four Horsemen.  As Joseph Story, Middle East analyst and former ARAMCO executive once said, “Only one factor is involved in where the price of oil is going to go, and that is Saudi Arabia”. Continue reading