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Speculators? How about insider Trading?
Author: Raine    Date: 06/30/2008 12:30:19

Iraq Announced the Oil Contracts... And Surprise Surprise... The US advised them on who to give the No-Bid Contracts to.
A group of American advisers led by a small State Department team played an integral part in drawing up contracts between the Iraqi government and five major Western oil companies to develop some of the largest fields in Iraq, American officials say.

The disclosure, coming on the eve of the contracts’ announcement, is the first confirmation of direct involvement by the Bush administration in deals to open Iraq’s oil to commercial development and is likely to stoke criticism.

In their role as advisers to the Iraqi Oil Ministry, American government lawyers and private-sector consultants provided template contracts and detailed suggestions on drafting the contracts, advisers and a senior State Department official said.

...At a time of spiraling oil prices, the no-bid contracts, in a country with some of the world’s largest untapped fields and potential for vast profits, are a rare prize to the industry. The contracts are expected to be awarded Monday to Exxon Mobil, Shell, BP, Total and Chevron, as well as to several smaller oil companies.

So much for a sovereign nation. The article is also lying to us. It is not the first time that the Bush administration's involvement has been disclosed. Let's go back in time... Let's revisit Dick's *Energy Task Force*
On his 10th day as vice president, Dick Cheney established a secret "Energy Task Force," formally known as the National Energy Policy Development Group (NEPDG), for the purpose of making recommendations to President Bush on energy policy. In formulating a new energy strategy for America, the task force met secretly with lobbyists and representatives of the petroleum, coal, nuclear, natural gas, and electricity industries. Many of these individuals work for energy companies which gave large campaign contributions to Bush/Cheney 2000. Environmental groups were mostly excluded from the task force.

Members of Congress demanded Cheney release the names of individuals and corporations who gave information and advice to the task force. But the vice president refused. After pressure from the General Accounting Office (GAO), the independent auditing arm of Congress, Cheney did release limited information about the task force. The GAO issued a report on the information and found several corporations and associations, including Chevron Corp. (now part of ChevronTexaco Corp.) and the National Mining Association, gave detailed energy policy recommendations for the task force.

According to the GAO's report, "senior agency officials" with the Department of Energy met "numerous times" with energy companies to provide advice to Cheney's energy task force. Those companies include Bechtel, Chevron, American Coal Company, Small Refiners Association, the Coal Council, CSX, Kerr-McGee, Nuclear Energy Institute, the National Mining Association, General Motors, the National Petroleum Council, and the energy lobbying firm of Barbour, Griffith & Rogers. In addition, the Secretary of Energy discussed national energy policy with chief executive officers of petroleum, electricity, nuclear, coal, chemical, and natural gas companies, among others. The task force even sought and received advice from the now-disgraced and bankrupt Enron Corporation.
[...]

In July 2003, after two years of legal action through the Freedom of Information Act, Judicial Watch was finally able to obtain some documents from the task force. Those documents include maps of Iraqi and other mideast oilfields, pipelines, refineries and terminals, two charts detailing various Iraqi oil and gas projects, and a March 2001 list of "Foreign Suitors for Iraqi Oilfield Contracts."

In January 2003, The Wall Street Journal reported that representatives from Halliburton, Exxon Mobil Corp., Chevron-Texaco Corp. and Conoco-Phillips, among others, had met with Vice President Cheney's staff to plan the post-war revival of Iraq's oil industry. However, both Cheney and the companies deny the meeting took place.
Bold face mine. Looks like Cheney finally is seeing the end results from his Task Force.

Speculators are the problem with rising energy costs, yes, and the biggest one of all was and still is Dick Cheney. He finally is seeing the fruits of his labors ripen. This is the biggest and most criminal case of insider trading I think we will ever see in our lifetime.

:peace: and
Raine
 

222 comments (Latest Comment: 07/01/2008 02:25:18 by clintster)
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Comment by capt on 06/30/2008 12:39:28
I'm a hearing me saying Good Morning to you!







Half way through the year! (time fly's when you throw a clock)

Comment by TriSec on 06/30/2008 12:48:37
Well....today is the last June 30, 2008 we'll ever see...





Comment by m-hadley on 06/30/2008 12:54:49
Mornin' Raine, Capt & TriSec, :coffee:

I'm pooped this morning - I finally decided to tackle my backyard yesterday (I had not mowed it at all this year, so it was a real jungle). I got it cut and trimmed all my trees then I took the boys for a walk and then I think I blew out my knee. I heard an ominous pop sound when I tried to bend it getting up from sitting on my back porch. So today I'm taking Aleve, I put a cold pack on it last night - the frustrating thing that I know I need to do to help relieve the stress on my knees is lose weight But it is easier said than done. Perhaps I should start eating sushi and let the mercury take care of my weight problem :)

But I'm not sure how wise it is to eat sushi in land-locked Oklahoma???

Frangela all week... :D

Cheers,

mfaye

:hug: :heart:

Comment by TriSec on 06/30/2008 13:09:14
Ooooh!



I have my new Franklin Planner for July 2008 - June 2009...looking over the "planning calendar" section, it just gave me a significant amount of pleasure to write "Bush's Last Day" on 01/20/09...





Comment by TriSec on 06/30/2008 13:10:23
Faye, if you can't drive to the ocean in an hour, that's too far inland for decent seafood...



:peace:





Comment by m-hadley on 06/30/2008 13:16:41
Quote by TriSec:

Faye, if you can't drive to the ocean in an hour, that's too far inland for decent seafood...



:peace:







Thanks TriSec,

You have confirmed my hunch that catfish ain't seafood :D

Cheers,

mfaye

:heart:



Comment by BobR on 06/30/2008 13:19:24
Quote by TriSec:

Faye, if you can't drive to the ocean in an hour, that's too far inland for decent seafood...



:peace:





Hey Tri - you know there are these things these days called "jets" and "airports" that can take seafood pretty far inland pretty quickly... :P

Comment by livingonli on 06/30/2008 13:29:34
Good morning everyone.



It's tough as it is to get up in the morning but I also have a 10:20 appointment with the Endocrinologist.

Comment by trojanrabbit on 06/30/2008 13:32:48
Good morning everyone!



mmmmmmmmmm donuts



Yesterday was the seemingly bi-monthly visit to totally wipe clean Dad's computer and start all over again. Never seems to fail, it gets to the point where it just locks up for no reason and the only way to fix it is to start from scratch. Got it down to a science now, restore - remove all the manufacturer installed garbage (Norton, crippled versions of Office and Quicken - install Dad's apps - install printer. Funny that the thing that takes the longest is to install the printer software.



Got home to 2 very scared kitties, while the sun was out a few miles to the south a nasty thunderstorm must have rumbled over the homestead.



Trying to divide my time between work, liveblog and here. no winners. Can't multitask like that.

Comment by livingonli on 06/30/2008 13:35:34
There was a real big thunderstorm at 3 AM by me last night .

Comment by Raine on 06/30/2008 13:38:11
The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.

Comment by TriSec on 06/30/2008 13:39:41
McCain, Graham, and Clark, Oh My!



Republican presidential candidate John McCain met privately Sunday with evangelists Billy and Franklin Graham at the family's mountaintop retreat in North Carolina.



It was McCain's first sit-down with Billy Graham and his son, although McCain and the elder Graham are acquainted.



With 89-year-old Billy Graham in poor health, McCain flew to North Carolina expecting to meet only with Franklin Graham -- president and chief executive of the group his father founded in 1950, the Billy Graham Evangelistic Assn.



McCain, who is courting religious voters and trying to reassure skeptical conservatives, said he had "a very excellent conversation" with the two "great leaders."



Franklin Graham issued a statement after the meeting praising the Arizona senator's "personal faith and his moral clarity."



He said he was not endorsing anyone for president, but was urging "men and women of faith everywhere" to vote and to be involved in the political process.



McCain said last week that he did not consider the meeting with Franklin Graham to be political.



Franklin Graham was among 30 evangelicals with whom Democratic presidential candidate Barack Obama met this month in Chicago.



In Washington, retired Army Gen. Wesley K. Clark challenged McCain's claim that he was better prepared than Obama to be president.



Clark said he honored McCain's service as a prisoner during the Vietnam War and respected his role on the Senate Armed Services Committee.



But Clark said McCain had no executive experience, and added that the Navy squadron McCain commanded was not a wartime squadron.



"He hasn't been there and ordered the bombs to fall," Clark said on CBS' "Face the Nation."



When moderator Bob Schieffer noted that Obama hadn't had those experiences, nor had he flown a fighter plane and been shot down, Clark replied: "Well, I don't think riding in a fighter plane and getting shot down is a qualification to be president."

Comment by livingonli on 06/30/2008 13:39:50
When will Dick Cheney be frog marched? Hopefully before he flees to Dubai after he leaves office.

Comment by livingonli on 06/30/2008 13:41:22
Quote by Raine:

The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.


You done good buckaroo.

Comment by BobR on 06/30/2008 13:47:52
morning folks... :coffee:



Comment by Raine on 06/30/2008 13:50:12
It's is about time a mainstream poltico actually said this. I have been wondering myself how his being shot down gives him the experience.



This is not trashing his service, however, I am thinking more and more that it is McCain that is taking advantage of his own service for political gains.



He had been shot down on more than one occasion, hasn't he? How many planes did he actually lose?



Comment by m-hadley on 06/30/2008 13:51:56
Quote by Raine:

The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.




Excellent work, Raine,

You did good, no, great... very timely topic, excellent coverage. :clap:

Cheers,

mfaye

:peace:



Comment by Shane-O on 06/30/2008 13:52:15
Quote by Raine:

The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.
Uh-oh. I hope those standards don't also apply to silly comments, otherwise I should

:p

Comment by Raine on 06/30/2008 13:54:46
Quote by Shane-O:

Quote by Raine:

The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.
Uh-oh. I hope those standards don't also apply to silly comments, otherwise I should

:p
Silly comments are a requirement!



Comment by Raine on 06/30/2008 13:55:47
Thanks you Angela... I agree, I want my president to be smarter and better than me. I don't wanna have a beer with the president.







Comment by BobR on 06/30/2008 13:57:48
Re: Today's blog entry...



http://images.ucomics.com/comics/crmlu/2008/crmlu080621.gif


Comment by Shane-O on 06/30/2008 13:58:56
I wonder if Frangela having to dump a caller messed up their timing for the hard break at :57...

Comment by Shane-O on 06/30/2008 14:00:41
So true on the insider trading - and worse in that in most 10b-5 cases, people only lose their $$ - not thousands losing their lives.

Comment by TriSec on 06/30/2008 14:01:33
I believe Mr. McCain was shot down only the one time. However, he had a track record with his A-1 Skyraider...as noted in the Wiki:



"Graduating from flight school in 1960, he became a naval pilot of ground-attack aircraft. McCain was then stationed in A-1 Skyraider squadrons, on the aircraft carriers USS Intrepid and USS Enterprise, in the Caribbean Sea and Mediterranean Sea. The planes he was flying crashed twice and once collided with power lines, but he received no major injuries."



However, he was very nearly killed aboard the USS Forrestal in 1967...his Skyhawk may or may not have been hit by an errant missile that started the fire...



BTW, neither the A-1 Skyraider or A-4 Skyhawk is a fighter jet. They're ground-attack aircraft. The A-4 may have that "fighter" name attached to it because it was the mount of the USN Blue Angels through most of the 1970s.





Comment by BobR on 06/30/2008 14:13:46
Quote by Raine:

Thanks you Angela... I agree, I want my president to be smarter and better than me. I don't wanna have a beer with the president.





A vintage bordeaux perhaps, but not a beer....



OMG - ELIIIITISSSTT!!! :sprint:

Comment by livingonli on 06/30/2008 14:13:56
OK, off to the endocrinologist I go. This weekend my numbers were a little better so let's see what happens.

Comment by BobR on 06/30/2008 14:15:25
Quote by TriSec:

I believe Mr. McCain was shot down only the one time. However, he had a track record with his A-1 Skyraider...as noted in the Wiki:



"Graduating from flight school in 1960, he became a naval pilot of ground-attack aircraft. McCain was then stationed in A-1 Skyraider squadrons, on the aircraft carriers USS Intrepid and USS Enterprise, in the Caribbean Sea and Mediterranean Sea. The planes he was flying crashed twice and once collided with power lines, but he received no major injuries."



However, he was very nearly killed aboard the USS Forrestal in 1967...his Skyhawk may or may not have been hit by an errant missile that started the fire...



BTW, neither the A-1 Skyraider or A-4 Skyhawk is a fighter jet. They're ground-attack aircraft. The A-4 may have that "fighter" name attached to it because it was the mount of the USN Blue Angels through most of the 1970s.





so essentially, McCain was one of the guys dropping napalm on the villagers...

Comment by Raine on 06/30/2008 14:15:57
Quote by m-hadley:

Quote by Raine:

The bloggie has been updated! I hope this is worthy of the 4F blog standards for quality.




Excellent work, Raine,

You did good, no, great... very timely topic, excellent coverage. :clap:

Cheers,

mfaye

:peace:



2 other VERY interesting Articles relating to this; While they were announced, they haven't been signed:
Iraq is negotiating with Shell, BP, ExxonMobil, Chevron and Total, and a consortium of other smaller oil companies, Oil Minister Hussein al-Shahristani said at press briefing.



"We did not finalise any agreement with them because they refused to offer consultancy based on fees, as they wanted a share of the oil," he said.


Hmm... they want a share of the iol ... what a shock...

And there is this, Sure to make OPEC REALLY thrilled...
By allowing international firms to help raise output at its major oil fields, the Iraqi government is breaking with the policy of major oil-producing neighbors such as Saudi Arabia, Kuwait and the United Arab Emirates whose national firms keep tight control of foreign investment in their oil sectors.

[...]

But many Iraqis still bear a grudge after British, American and French oil companies controlled their oil industry for half a century through the Iraq Petroleum Co (IPC).



It was an era when Western majors working in the Middle East used oil output and prices as an economic and political tool, analysts said.



From the time it struck oil at the huge Kirkuk field in 1927 until nationalism forced it out in 1972, IPC -- made up of BP, Exxon, Mobil, Shell, CFP (Total) and Partex - ruled the roost.



That did not sit well with Baghdad, which resented IPC's control over its revenues.



Oil is Iraq's main source of income, and boosting output is key to earning the cash the country needs for reconstruction.



Iraq's cabinet agreed a draft oil law in February last year, but it has failed to get through parliament.



In the absence of the law, Baghdad has moved ahead with the contracts, saying this is in line with an old oil law in existence before the invasion that toppled Saddam.




Comment by Raine on 06/30/2008 14:35:58
Comment by BobR on 06/30/2008 14:38:49
Looks like the Monday-Morning-Back-to-Work has struck more than just me...



:kickcan:

Comment by Raine on 06/30/2008 14:41:33
Uh... lawnmowers go WAY faster than 5 miles per hour.



Especially Craftsmaen mowers...

Comment by m-hadley on 06/30/2008 14:42:27
Attention ALL 4Fers,

I have a request - could somebody please take over the Blog Post for this coming Sunday, July 6th? I will be on the road on Sunday after spending the weekend with my family and I'm sure that although I may have quite a bit to say after spending a weekend in rural Indiana, I don't see how I can find the time to post it by Sunday morning. Please let me know - I'll owe you one (at least a beverage at our next meet-up :D). Thanks mucho.

Cheers,

mfaye

:heart: :hug:

Comment by trojanrabbit on 06/30/2008 14:45:20
Quote by Raine:

Uh... lawnmowers go WAY faster than 5 miles per hour.



Especially Craftsmaen mowers...




My dad told me his new Cub Cadet mower has cruise control.



Huh? Of course the last time I needed to use a mower was just before I moved out 25 years ago.

Comment by Raine on 06/30/2008 14:45:56
Quote by BobR:

Quote by TriSec:

I believe Mr. McCain was shot down only the one time. However, he had a track record with his A-1 Skyraider...as noted in the Wiki:



"Graduating from flight school in 1960, he became a naval pilot of ground-attack aircraft. McCain was then stationed in A-1 Skyraider squadrons, on the aircraft carriers USS Intrepid and USS Enterprise, in the Caribbean Sea and Mediterranean Sea. The planes he was flying crashed twice and once collided with power lines, but he received no major injuries."



However, he was very nearly killed aboard the USS Forrestal in 1967...his Skyhawk may or may not have been hit by an errant missile that started the fire...



BTW, neither the A-1 Skyraider or A-4 Skyhawk is a fighter jet. They're ground-attack aircraft. The A-4 may have that "fighter" name attached to it because it was the mount of the USN Blue Angels through most of the 1970s.





so essentially, McCain was one of the guys dropping napalm on the villagers...
Well there you go.



And he is saying that his war experience gives him Commander in Chief experience?



Sorry. GHW Bush flew fighter planes. HE has combat experience.



Comment by Raine on 06/30/2008 14:47:30
Quote by m-hadley:

Attention ALL 4Fers,

I have a request - could somebody please take over the Blog Post for this coming Sunday, July 6th? I will be on the road on Sunday after spending the weekend with my family and I'm sure that although I may have quite a bit to say after spending a weekend in rural Indiana, I don't see how I can find the time to post it by Sunday morning. Please let me know - I'll owe you one (at least a beverage at our next meet-up :D). Thanks mucho.

Cheers,

mfaye

:heart: :hug:
I will cover you, Faye unless we have someone else who wants to step in! Not a problem.



Comment by Raine on 06/30/2008 14:48:56
Quote by trojanrabbit:

Quote by Raine:

Uh... lawnmowers go WAY faster than 5 miles per hour.



Especially Craftsmaen mowers...




My dad told me his new Cub Cadet mower has cruise control.



Huh? Of course the last time I needed to use a mower was just before I moved out 25 years ago.
Oh man, the new mowers are just AWESOME...



The only down side is that the ride is MUCH smoother than it used to be...



Comment by Scoopster on 06/30/2008 14:49:46
Quote by BobR:

Looks like the Monday-Morning-Back-to-Work has struck more than just me...



:kickcan:


Morning all It's more than just Monday here.. it's end of month and end of fiscal year! :sprint:

Comment by trojanrabbit on 06/30/2008 14:56:35
Quote by Raine:

Quote by trojanrabbit:

Quote by Raine:

Uh... lawnmowers go WAY faster than 5 miles per hour.



Especially Craftsmaen mowers...




My dad told me his new Cub Cadet mower has cruise control.



Huh? Of course the last time I needed to use a mower was just before I moved out 25 years ago.
Oh man, the new mowers are just AWESOME...



The only down side is that the ride is MUCH smoother than it used to be...





That and they seem to have an enormous appetite for gas.



Now, back in the day I used to do that lawn with an 18" Craftsman push mower made of cast iron, took most of the day. Thing probably put out 2HP tops. Dad says the new one has a 23HP engine.



Of course, he's 82 so I don't expect him to be pushing anything around.



Comment by m-hadley on 06/30/2008 15:01:04
Quote by Raine:

Quote by m-hadley:

Attention ALL 4Fers,

I have a request - could somebody please take over the Blog Post for this coming Sunday, July 6th? I will be on the road on Sunday after spending the weekend with my family and I'm sure that although I may have quite a bit to say after spending a weekend in rural Indiana, I don't see how I can find the time to post it by Sunday morning. Please let me know - I'll owe you one (at least a beverage at our next meet-up :D). Thanks mucho.

Cheers,

mfaye

:heart: :hug:
I will cover you, Faye unless we have someone else who wants to step in! Not a problem.





Thanks Raine,

Can I pick up Monday, July 7th for you? I owe you a bottle of Vanilla Vitamin V :P

Thanks again.

Cheers,

mfaye

:hug:



Comment by capt on 06/30/2008 15:01:29
I knew a guy that was arrested for drunk driving a lawn mower.



He knew he was too wasted to drive to the corner to get cigs so he thought he could drive his lawn mower with impunity.



He really wasn't such an idiot but he was WAY too wasted.





Comment by Raine on 06/30/2008 15:03:54
Quote by m-hadley:

Quote by Raine:

Quote by m-hadley:

Attention ALL 4Fers,

I have a request - could somebody please take over the Blog Post for this coming Sunday, July 6th? I will be on the road on Sunday after spending the weekend with my family and I'm sure that although I may have quite a bit to say after spending a weekend in rural Indiana, I don't see how I can find the time to post it by Sunday morning. Please let me know - I'll owe you one (at least a beverage at our next meet-up :D). Thanks mucho.

Cheers,

mfaye

:heart: :hug:
I will cover you, Faye unless we have someone else who wants to step in! Not a problem.





Thanks Raine,

Can I pick up Monday, July 7th for you? I owe you a bottle of Vanilla Vitamin V :P

Thanks again.

Cheers,

mfaye

:hug:

Sure. but you dunno owe me anything...



Comment by Raine on 06/30/2008 15:04:55
Quote by capt:

I knew a guy that was arrested for drunk driving a lawn mower.



He knew he was too wasted to drive to the corner to get cigs so he thought he could drive his lawn mower with impunity.



He really wasn't such an idiot but he was WAY too wasted.





When I lived in NY, upstate of course, it was a common saturday afternoon thing to see.

Comment by Raine on 06/30/2008 15:07:28
Quote by trojanrabbit:

Quote by Raine:

Quote by trojanrabbit:

Quote by Raine:

Uh... lawnmowers go WAY faster than 5 miles per hour.



Especially Craftsmaen mowers...




My dad told me his new Cub Cadet mower has cruise control.



Huh? Of course the last time I needed to use a mower was just before I moved out 25 years ago.
Oh man, the new mowers are just AWESOME...



The only down side is that the ride is MUCH smoother than it used to be...





That and they seem to have an enormous appetite for gas.



Now, back in the day I used to do that lawn with an 18" Craftsman push mower made of cast iron, took most of the day. Thing probably put out 2HP tops. Dad says the new one has a 23HP engine.



Of course, he's 82 so I don't expect him to be pushing anything around.

HE earned the cruise control!



I want this Rider mower:



http://www.geekologie.com/2007/10/02/bike-mower-1.jpg


Comment by Will in Chicago on 06/30/2008 15:11:25
Good morning, bloggers!!!



I hope that everyone is doing well. Great blog entry, Raine!!



I am okay, but I am on hold waiting to find out if some teacher test scores I requested were sent out. It has been two weeks, so I should have received it already. (I just want ot make sure that it was sent out at least.)



Also, some woes with the browser last night that kept me up late working on the Daily Headlines.



Comment by TriSec on 06/30/2008 15:12:50
Quote by Raine:





so essentially, McCain was one of the guys dropping napalm on the villagers...
Well there you go.



And he is saying that his war experience gives him Commander in Chief experience?



Sorry. GHW Bush flew fighter planes. HE has combat experience.







Actually, Bush 41 flew the TBM Avenger....which was a torpedo bomber. (the same plane of Flight 19/Bermuda Triangle fame)



I read "The Flyboys". Papa Bush narrowly missed being captured and tortured to death by the Japanese...other members of his squadron weren't so lucky. I'm still willing to cut Mr. McCain some slack over his military experience. That's certainly worth something; at least he served and suffered for the USA, which is more than I can say for the current resident. (Drunk...AWOL...)





Comment by Raine on 06/30/2008 15:13:22
Paying Taxes on Property is hard when you have so much land. Here is a tour of the McCain homes:



Comment by TriSec on 06/30/2008 15:20:16
Curiously enough, the current George Bush actually did fly fighter jets.



Only he flew a 1950s vintage Delta Dart (F-106) in National Guard service. Wasn't going to see a lot of combat there...





Comment by livingonli on 06/30/2008 15:21:36
I am back. So, my next call is going to be for a nutritionist as soon as I find one who is covered under my company's insurance.



Why is everything I like bad for me?

Comment by Will in Chicago on 06/30/2008 15:21:38
Obama is giving another major speech today, according to the Associated Press:



Obama giving patriotism speech in Independence, Missouri



I hope that Obama makes reference to the following sayings.



First from Samuel Johnson:







Patriotism is the last refuge of a scoundrel.




And of course the followup a long time later by American writer Ambrose Bierce:



“In Dr. Johnson’s famous dictionary patriotism is defined as the last resort of a scoundrel. With all due respect to an enlightened but inferior lexicographer, I beg to submit that it is the first.”—Ambrose Bierce, The Devil’s Dictionary




Did anyone get several minutes of Momma and the Mooks from a recent show, or was it just WCPT AM 820 in Chicago.

Comment by TriSec on 06/30/2008 15:22:54
The last president with relevant *command* experience, which is an entirely different beast from combat experience, might be Eisenhower....