-Caveat Lector-
RevCOAL wrote:
>
> -Caveat Lector-
>
> >If parliament permits foreign companies to pump Kuwaiti oil, it would reverse
> >more than two decades of policy.
>
> A few years ago I ran across an old issue of National Geographic from the
> mid 1970s...
>
> What first caught my eye was a Bicentennial article on "Women of the
> American Revolution"....
>
> ...but what prompted me to save the magazine from the trash it was headed
> for was an article about the 'emerging Middle East'...
>
> This issue was from late 1975 or early 1976, and the article on the
> Middle East was comprised of smaller articles on each country of the
> region...
>
> And I found the write up on Kuwait extremely interesting, 20 years down
> the road...
>
> The article indeed mentioned how the Kuwaiti royal family ended up
> controlling the oil fields in their country...
>
> Except, according to this article, it was accomplished because the ruling
> oil conglomerate in the country recognized 'the writing on the wall' --
> other middle eastern countries were nationalizing oil production and
> throwing out the western oil companies that had dominated the region --
> so this company that had dominated Kuwaiti oil production (indeed, had
> initiated test drilling after WWII) worked out a deal with the Kuwaiti
> royals....
>
> Namely, that this company would turn over the production and sale of
> crude oil to the Kuwaiti royal family, in exchange for the sole rights to
> SHIP the oil out of Kuwait on this company's own ships...
>
> Look at a map of the region, specifically of Kuwait, and you will realize
> that this is not a minor matter....
>
> And the Kuwaiti royal family agreed...it was a win-win situation for both
> sides...the Kuwaiti royals now got to enjoy the profits from selling oil
> to the company that had turned over the wells, and the company in turn
> continued to make huge profits by acting as the middle man...
>
> And apparently the right to ship the oil out of Kuwait is a right granted
> in perpetuity -- in other words, the company that turned over the wells
> has the sole right to ship oil out of Kuwait -- and reap the profits of
> being the middle man -- forever...
>
> And what is the name of this company? It was clearly spelled out in this
> 20-something-year-old article -- in 1975 the name meant little, if
> anything, to the general public, and indeed probably means little to
> nothing to the majority of the public today...
>
> But the name 'Zapata Oil Company' IS quite meaningful to anyone who knows
> the history of the Bush family.... ;-)
>
> June
Good one!!!!
J2
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