TPM: Oil Buddies (Bush cronie signs oil deal with Kurdistan)

[EFerrari]

Oil Buddies
09.13.07 -- 12:40AM
By Josh Marshall

An article in tomorrow's Times reports that the long-negotiated compromise which seemed to be leading towards an Iraqi oil law -- a key 'progress' benchmark -- has apparently collapsed. All gone down the drain.

The story though connects up with another one we told you about just a couple days ago -- the decision of the Kurdistan regional government to sign an oil exploration deal with Dallas-based Hunt Oil, run by Mr. Ray L. Hunt.

The Shia and Sunni leaders believe the Kurds are opting for a sort of oil secession that puts them outside the whole concept of a law to share the country's oil resources. And the Hunt deal is apparently the straw that broke the camel's back, shall we say.

But remember, Hunt, in addition to being the son of legendary Texas John Birch Society extremist H.L. Hunt, is also a pal of the president's. Indeed, President Bush has twice appointed Hunt to his Foreign Intelligence Advisory Board. So while the president is striving to get the Iraqis to meet these benchmarks one of his own pals -- and more importantly, political appointees -- is busy helping to tear the whole thing apart.


http://talkingpointsmemo.com/archives/053047.php

[bobthedrummer]

1. k&r

The Hunts also damaged the world silver market decades ago, fwiw.

IMPEACH CHENEY FIRST

[EFerrari]

2. Kurdish Media: KRG signs oil and gas contract with US-based Hunt Oil

KRG signs oil and gas contract with US-based Hunt Oil


Erbil, Kurdistan- Iraq (KRG.org) - The Kurdistan Regional Government (KRG) together with Hunt Oil Company of the Kurdistan Region, a subsidiary of Hunt Oil Company of Dallas, Texas, and Impulse Energy Corporation (IEC) announced today that they have signed a Production Sharing Contract (PSC) covering petroleum exploration activities in the Duhok area of the Kurdistan Region. Under the terms of the agreement, Hunt Oil Company of the Kurdistan Region will serve as operator. This is the first PSC to be signed by the KRG since the Oil and Gas Law of the Kurdistan Region was issued by the Kurdistan National Assembly, Kurdistan's parliament, in early August, 2007.

Hunt Oil Company of the Kurdistan Region will begin geological survey and seismic work by the end of 2007 and plans to be in a position to drill an exploration well in 2008.

Dr Ashti Hawrami, the KRG Minister for Natural Resources, commented, “The signing of this PSC by Hunt is evidence that the KRG's enactment of a modern and balanced oil and gas law has created a supportive and transparent business environment which promotes investment by international oil companies in our Region for the benefit of all. Revenues from this Kurdistan petroleum development will be shared by the KRG throughout Iraq, consistent with the Iraq constitution and the new Oil and Gas Law of the Kurdistan Region.”

http://www.kurdmedia.com/article.aspx?id=14365

Mr Ray L. Hunt, CEO of Hunt Oil Company in Dallas, Texas, said, “We are very pleased to have the opportunity to be a part of these landmark events by actively participating in the establishment of the petroleum industry in the Kurdistan Region of Iraq.”

[EFerrari]

8. Sourcewatch: Ray L. Hunt

Ray L. Hunt
From SourceWatch

Ray Lee Hunt is a "Dallas businessman whose association with Hunt Oil Company began in 1958 as a summer employee in the oil fields. He was educated at Southern Methodist University (SMU) and received a degree in economics in June 1965. While at SMU, he was designated a University Scholar, served on the student senate, received the Outstanding Business Student Award and was president of his fraternity, Phi Delta Theta.<1>

Hunt now serves as Chairman of the Board, President, and CEO of Hunt Consolidated, Inc.; Chairman of the Board and CEO of Hunt Oil Company; and Chairman of the Board, Chief Executive Officer and President, RRH Corporation. He has been Chairman and Chief Executive Officer of Hunt Private Equity Group since its inception in 1990. <2>

Hunt was appointed in October 2001 by President George Walker Bush to the President's Foreign Intelligence Advisory Board.<3>

Hunt joined the Halliburton Company Board in 1998. He is Chairman of the Compensation Committee and member of the Audit and the Management Oversight Committees. He also serves as a member of the boards of directors of PepsiCo, Inc., King Ranch, Inc., Electronic Data Systems Corporation, the Federal Reserve Bank of Dallas, and Security Capital Group Incorporated

http://www.sourcewatch.org/index.php?title=Ray_L._Hunt

[Robbien]

3. Isn't that Foreign Intelligence Advisory Board one of the ones Cheney presides over

Also

Hunt is also on the board of directors of Halliburton, the company formerly run by Vice President Dick Cheney. In 2000, Hunt was one of 241 Bush "pioneers"—meaning he raised more than $100,000 for the Bush presidential campaign. He was finance chairman for the Republican National Committee’s Victory 2000 Committee.

So this oil deal which goes against Iraqi laws appears to be a sanctioned deal by Cheney/Bush.

[EFerrari]

6. Sanctioned -- it was probably Cheney's idea.

:shrug:

[90-percent]

4. Memory Hole

This is just one more of HUNDREDS of impeachable scandals that will be in the news for about 24 hours and then disappear.

Some other at DU pointed out that disrupting both the peace process and reconciliation of the new Iraq Government is a crime or treason or something. Looks like treason is overlooked if it's a Bush Buddie making the mega oil bucks, huh?

Ray Hunt's dealings should be MSM front page, but it won't, as we all well know...

At least Keith gave it proper coverage recently....


-85% jimmy

[EFerrari]

7. I only heard about it this mornng because Dennis did his 1 minute

speech on this topic.

[EFerrari]

5. Financial Times: Big oil’s waiting game over Iraq’s reserves

Big oil’s waiting game over Iraq’s reserves

By Ed Crooks and Sheila McNulty

Published: September 18 2007 23:07 | Last updated: September 18 2007 23:07

In Iraq, oil companies face a dilemma. They can wait for the central government in Baghdad to agree a new oil law that will give them a legal framework in which they can operate, and for the security situation to become manageable.

Or they can press ahead and sign agreements with the Kurdistan Regional Government, the authority in the autonomous north of Iraq, at the risk of souring relations with Baghdad and shutting themselves out of deals in the rest of the country.

It is a decision that has so far divided the smaller operators from the majors.

In Iraqi Kurdistan, the companies that are active include DNO – which has produced the first oil from a new source in Iraq since the invasion of 2003 – Addax, Dana Gas, Sterling Energy and Western Oil Sands, which is spinning off its activities in the region as part of its takeover by Marathon.

http://www.ft.com/cms/s/0/314b8bce-6612-11dc-9fbb-0000779fd2ac,s01=1.html

[EFerrari]

9. Forbes: #249 (The World's Billionaires) Ray Hunt

The World's Billionaires
#249 Ray Hunt
03.08.07, 6:00 PM ET

Age: 64

Fortune: inherited and growing

Source: oil, real estate

Net Worth: $3.5 bil

Country Of Citizenship: United States

Residence: Dallas, Texas , United States, North America

Industry: Oil/Gas

Marital Status: married, 5 children

http://www.forbes.com/lists/2007/10/07billionaires_Ray-Hunt_FVT9.html

[EFerrari]

10. Kick

[me b zola]

11. k&r

[EFerrari]

12. Thanks! I should have put "taser" in the Subj line.

lol

[Vincardog]

13. REmember that the "law to share the country's oil resources" is a Cheney sponsored law to give

foreign oil companies the rights to Iraq's oil reserves.
This law was unconstitutional under the rules while Saddam was in charge.

Does anyone still labor under the delusion that this illegal occupation was about anything other than
stealing oil?

[EFerrari]

16. I've stopped calling this a war OR an occupation.

It's a sacking. We knew it would be and I remember people accusing me of cynicism. :shrug:

[mod mom]

14. He used insider Intel (Foreign Intel Advisory Board) to undermine efforts of a central

government with sharing between the 3 factions-therefore he should be arrested for treason. It's all about self enrichment w these thugs, despite the amount of others blood that must be shed.

[EFerrari]

17. Thank you! I hadn't been able to pinpoint what the problem was

and why I needed, as an impeachment ranter, to pay attention to it. :toast: to you, mod mom.

[mod mom]

18. Of course IANAL, but this certainly doesn't pass the smell test to moi!

:toast: back at ya!

[mod mom]

15. Countdown's 5th story from the 14th does a great job covering this-transcript:

http://www.msnbc.msn.com/id/20823198

[EFerrari]

19. One more kick for people like me who didn't see this earlier.

:kick:

[BornagainDUer]

20. Marina Oswald said she was driven to a meeting with HL Hunt shortly after JFK assasination.

This is in the book: "The Man Who Knew too Much".