Bush Family Business Oil Dynasty

Bush Family Oil Dynasty
Was the Bush Family Trump Without the Rough Edges?
By Kevin Phillips summarized/edited by Walter Antoniotti

1. The Merger of Two Great Families

2. The life and Times of George the First

3. The Revival of George II

More Presidential Power Summaries
Presidential Courage American Dynasty

Part I The Merger of Two Great Families
Time Subject²	End of 19th and Early 20th Century	WW1	Between Wars
Family	Samuel Bush-1863-1948 Bush 1's grandfather Prescott Bush 1895-1972 Bush 1's father George Herbert Walker, 1875-1953 Prescott's father-in - law	Became well-off running Buckeye Steel 1908-1927. Took over for Frank Rockefeller p 21 Became wealthy owning G. H...Walker and Co, an investment company, did work for E. H. Harriman, owner of Union Pacific and did work for J.P. Morgan pp 21-22	Did not profit from military spending after the war. First job was in St. Louis for fellow Yale Skull and Bones alumnus Wallace Simmons. Returned to Ohio, married Dorothy Walker, G.H. Walkers daughter, and managed a small rubber company. He eventually ended up in New York working for U.S. Rubber, a Harriman company. Two years later, at 31, he was made Vice President of W. A. Harriman Company. Ran recently formed W. A. Harriman Company set up by Rockefeller-headed National City Bank and Morgan connected Guaranty Trust p 23
Oil	1898 Germans clandestine oil exploration operation discovered in what is now Iraq. p 249 S. Bush SR worked closely with Rockefeller's Ohio based Standard Oil. p 151	Berlin to Baghdad railroad completed. p 249 From Wikipedia³ Begun in 1903, completion was delayed for years by diplomatic obstructions from Russia, France, and Britain. Sykes-Picot Agreement of 1916 gave postwar sphere of influence to Russia over the Bosporus and part of Anatolia, France got Lebanon, Syria, and oil rich Mosul, and Britain got Arabia, Palestine, and the Baghdad area. p 250 US has 2/3 of the worlds oil production, much going for the war. p 250	End of Hapsburg Empire caused European nations to seek control of Mid-East Oil. Russia lost her share of the Middle East pie because of revolution. pp 250-251 Walker SR served as director of Petroleum Bond and Share, was involved in with Harriman's 1922 Russian oil investment company which was the major developer on Baku oil field. Baku was close to modern-day Iraq so this is the time the Bush family pursuit of the region's oil began. p 251 Harriman purchased Dresser Manufacturing, an oil service company which later became Dresser Industries. Harriman's managing partner Prescott Bush rigorously supervised Yale classmate Neil Mallon, installed as Dresser's president. p 152
Business		Walker SR owned and sold Missouri based Laclede Gas Company. p 151 A Book entitled Merchants of Death published in 1934 blamed munitions makers for WWI. A senate special committee went after FDR's political enemies like the Du Pont's munitions empire. FDR chilled when the committee began looking to embarrass government officials. p 260	W.A. Harriman and Co. merged with and became Brown Brothers Harriman (BBH). p 24 A. Harriman, G. Walker, Clarence Dillon John Foster Dulles, and Alan Dulles were very involved with $2 billion controversial investments made to German and Russian industries. They held these investments well into WW2. pp 37, 186, 192

	WW2	Following WWII
Family		Prescott Bush, was elected to the U.S. Senate from Conn. in 1952, had an 10-year undistinguished career though he did serve on the Armed Services Committee and golfed frequently with President Eisenhower and national security advisor Gordon Grey. p28, p196
Family		!959 Walker Jr. gave up directorship of West Indies Sugar as Fidel Castro was about to nationalize West Indies Sugar value dropped from about $53 million to almost nothing. Walker-Bush holding were not known. p205
Oil	!942 Germany's drives were stopped 150 miles from Cairo and 300 miles from Soviet Baku oil fields. p 189 1943 FDR declared defense of Saudi Arabia as vital to defense of the United States. p 152 Japan got 80% of her oil from US and 10% from the Dutch East Indies. Seizing the most plausible substitute oil from Indochina, Borneo, the Dutch East Indies would have resulted in war with the United States. p 252 Dresser provided government with a number of highly specialized and highly classified products. p153 US in 1940-45 produced about 65% of a doubled end of war world oil output. p 254 Geologists discovered Middle East capacity far surpasses that of the US. p 254	Dresser stepped up the globalization of its oil business. 254
Business	The Neutrality Acts of 1935, p36, 37 stopped American business from profiting from the European arms buildup. p186 Investigations under the 1941 Trading with the Enemy Act resulted in assets being seized, some belonged to Harriman and Walker companies. p 38
1. This is page source from the 2004 paperback. 2 Table, column and row titles and name abbreviations are by Walter Antoniotti 3. Walter's addition Please e-mail with thoughts and suggestions.

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2. The life and Times of George the First

               Time
Subject After WW 2 and the 50's The 60's, 70's, 80's President George the Firsts 1988-92

Family George 1 went to Andover Academy, Yale, joined Skull and Bones, graduated in 1948, worked in Ohio as treasurer for subsidiaries of Dresser Industries where his father was a long time board member. pp 41-43

Unsuccessful U.S. Senate run, 1970 p 45
Undistinguished UN ambassador, 1971-72   p 30
Undistinguished Republican Party chairman, 1973-74   p 31
Chief of US China mission 1974-75   p 31
Director of CIA December 1975-76   p 31
Executive chairman of Dallas's First Bancshares and its London merchant banking Subsidiary 1977-78. p 279
George 1 was Vice President.

Oil George 1 left Dresser in 1951 and started Zapata with $50,000 from dad and $850,000 from friends of George Herbert Walker Jr. He was principally involved with the investment side of the business. pp 43,125
Zapata Offshore is formed, operates close to Cuba, and some feel it was CIA supported.
Zapata became Pennzoil and is later tied to Watergate money.
pp 205, 207
After the 1973 Arab-Israel War, Arabs quadruple the price of oil, cut off deliveries to the US
Another Oil crisis hits in 1979
Ken Lay of Enron fame became involved with George 1 politically and in the oil business. p 155
By 1980 US produced under 20% of the worlds oil and imports 30% of its needs. p 254
OPEC gave Enron a $56 million loan.
George 1 named Lay to organize G-7 Economic Summit in Huston and later to the President's Economic Council. p 157

Business U.S. foreign Military arms sale cross the billion dollar mark in 1968 and really jumped after the 1970 OPEC crisis when Washington decided arms sales would be a good way to get some of the dollars back that the Middle East oil producers. 263
Zapata, which provided commercial supplies for the Bay of Pigs invasion, was a CIA part-time purchasing front. 204
Dresser formed Permargo, a Mexican company with CIA ties. p 204
As VP, George 1 played a key role in U.S. supplying arms to Iraq. p 264
Secretary of Defense Cheney hired Dallas-based Halliburton's Brown and Roots Services to study how private companies can provide logistics for U.S. military forces around the word. That same year, said company, now Kellogg, Brown and Root, received the first big five-year logistics government support contract. p 171
Since 1994, Kellogg, Brown and Root and Virginia-based management and technology consulting Booz, Allen and Hamilton received 75% of the 3,000 government support contracts worth $300 billion.    p 172

Part 3 The Revival of George II

Time
The 70's

The 1980's, 1990's

2000 -

Family George 2 worked in father's unsuccessful senate bid in 1970-73, traveled for a business run by former Skull and Bonesman Richard Gow, helped in losing effort for a Alabama U.S. Senate seat, and worked for Professionals United for Leadership League, which his dad chaired.
Graduated Harvard Business School in 1975 and moved to Midland, Texas, soon to be America's richest town. p 45 George 1 was Vice President and then President of the United States
George 2 was Governor of Texas

Bush 3 became Governor of Florida³
George 2 became President of the United States

Oil/
Energy 1977- Starts Arbusto Energy, Spanish for Bush, got married and didn't drill till 1979. Didn't go well despite $565,000 from Uncle Jonathan's investors. p 46 Dad election win made money plentiful, but another 4.7 million from family and friends didn't help. Arbusto referred to as Ar-Bust-o by investors took nominal losses of $3 million with George 2 ion salary. p 46

1986 Harken Energy of Texas bought Arbusto and George 2 receives $500,000 in stock, a Harken directorship, and consecutive annual consulting salaries of $80,000 and $120,000. p 47 Over a Decade government agencies gave Enron $7.2 billion in financing. p 160

Enron President Kinder served on a committee that recommended Governor Bush ease taxes by $3 billion dollars on the capital intensive industries was accepted but the law failed. The tax burden was not passed to services and professionals. 160
California opened it energy markets and 24 states follow by end of 2000. p 161

2001 VP Chaney's energy task force predicted a 12% decline in U.S. oil production by 2020 which would compel the U.S. to import two-thirds of its needs. p 255
Enron had sales $31 billion in 1998 and 139 billion in 2001. p 164
California faced serious blackouts as prices spike to 50 times normal. p 167
Enron executive began quietly unloading Enron stock which hit $80 per share right after the Bush II's inaugural and was 50 by June. Stock fell to 20 in October as administration efforts like refusing to cap energy prices in California and pressure on India to pay Enron failed. p 168
The Enron scandal resulted in a late 2001 bankruptcy declaration. p 169

Business An Islamic Dodge City has been created in the Middle East by arms selling nations mostly from the West³. 265 1984-88 arms sales swollen by the Iraqi-Iranian war to Middle Eastern countries accounted for 48% of the third world total. 264 A Christian- Muslim civil war gutted Beirut. It killed forty-sixty thousand people which was more than the four Arab-Israeli wars combined. 265 $42 billion in arms sales from 1990-97 were made to the Gulf Cooperation Council countries of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and United Arab Emirates. 265 Why aren't they helping the US fight? ³ War in Afghanistan killed 1.5 million people and caused another 5 million to flee as refugees to India and Pakistan.

Life in the Middle East Corruption increased
because of oil money, covert operations, and commissions from arms deals.
Ballooning Drug Business for Afghanistan and Pakistan developed.
Rise of Islamic Fundamentalism occurred after the U.S. and Brittan foster a
cope to the democratically elected government and put the Shaw of Iran in charge.
Success of Islamic Revolution caused the overthrow of the shah of Iran, ascent of the Taliban in Afghanistan, and Saudi support for Al Qaeda. Pakistan Frontier Religious Party was successful.
Islamic Victories occurred in Nearby Turkey p 266
Secretary of Defense Donald Rumsfeld failed to follow the long believed military practices when managing an occupied country.
See The War On Terror: Who Are We Fighting.



2. The life and Times of George the First
Time Subject	After WW 2 and the 50's	The 60's, 70's, 80's	President George the Firsts 1988-92
Family	George 1 went to Andover Academy, Yale, joined Skull and Bones, graduated in 1948, worked in Ohio as treasurer for subsidiaries of Dresser Industries where his father was a long time board member. pp 41-43	Unsuccessful U.S. Senate run, 1970 p 45 Undistinguished UN ambassador, 1971-72 p 30 Undistinguished Republican Party chairman, 1973-74 p 31 Chief of US China mission 1974-75 p 31 Director of CIA December 1975-76 p 31 Executive chairman of Dallas's First Bancshares and its London merchant banking Subsidiary 1977-78. p 279 George 1 was Vice President.
Oil	George 1 left Dresser in 1951 and started Zapata with $50,000 from dad and $850,000 from friends of George Herbert Walker Jr. He was principally involved with the investment side of the business. pp 43,125 Zapata Offshore is formed, operates close to Cuba, and some feel it was CIA supported.	Zapata became Pennzoil and is later tied to Watergate money. pp 205, 207 After the 1973 Arab-Israel War, Arabs quadruple the price of oil, cut off deliveries to the US Another Oil crisis hits in 1979 Ken Lay of Enron fame became involved with George 1 politically and in the oil business. p 155 By 1980 US produced under 20% of the worlds oil and imports 30% of its needs. p 254	OPEC gave Enron a $56 million loan. George 1 named Lay to organize G-7 Economic Summit in Huston and later to the President's Economic Council. p 157
Business		U.S. foreign Military arms sale cross the billion dollar mark in 1968 and really jumped after the 1970 OPEC crisis when Washington decided arms sales would be a good way to get some of the dollars back that the Middle East oil producers. 263 Zapata, which provided commercial supplies for the Bay of Pigs invasion, was a CIA part-time purchasing front. 204 Dresser formed Permargo, a Mexican company with CIA ties. p 204 As VP, George 1 played a key role in U.S. supplying arms to Iraq. p 264	Secretary of Defense Cheney hired Dallas-based Halliburton's Brown and Roots Services to study how private companies can provide logistics for U.S. military forces around the word. That same year, said company, now Kellogg, Brown and Root, received the first big five-year logistics government support contract. p 171 Since 1994, Kellogg, Brown and Root and Virginia-based management and technology consulting Booz, Allen and Hamilton received 75% of the 3,000 government support contracts worth $300 billion. p 172

Part 3 The Revival of George II
Time	The 70's	The 1980's, 1990's	2000 -
Family	George 2 worked in father's unsuccessful senate bid in 1970-73, traveled for a business run by former Skull and Bonesman Richard Gow, helped in losing effort for a Alabama U.S. Senate seat, and worked for Professionals United for Leadership League, which his dad chaired. Graduated Harvard Business School in 1975 and moved to Midland, Texas, soon to be America's richest town. p 45	George 1 was Vice President and then President of the United States George 2 was Governor of Texas Bush 3 became Governor of Florida³	George 2 became President of the United States
Oil/ Energy	1977- Starts Arbusto Energy, Spanish for Bush, got married and didn't drill till 1979. Didn't go well despite $565,000 from Uncle Jonathan's investors. p 46	Dad election win made money plentiful, but another 4.7 million from family and friends didn't help. Arbusto referred to as Ar-Bust-o by investors took nominal losses of $3 million with George 2 ion salary. p 46 1986 Harken Energy of Texas bought Arbusto and George 2 receives $500,000 in stock, a Harken directorship, and consecutive annual consulting salaries of $80,000 and $120,000. p 47 Over a Decade government agencies gave Enron $7.2 billion in financing. p 160 Enron President Kinder served on a committee that recommended Governor Bush ease taxes by $3 billion dollars on the capital intensive industries was accepted but the law failed. The tax burden was not passed to services and professionals. 160 California opened it energy markets and 24 states follow by end of 2000. p 161	2001 VP Chaney's energy task force predicted a 12% decline in U.S. oil production by 2020 which would compel the U.S. to import two-thirds of its needs. p 255 Enron had sales $31 billion in 1998 and 139 billion in 2001. p 164 California faced serious blackouts as prices spike to 50 times normal. p 167 Enron executive began quietly unloading Enron stock which hit $80 per share right after the Bush II's inaugural and was 50 by June. Stock fell to 20 in October as administration efforts like refusing to cap energy prices in California and pressure on India to pay Enron failed. p 168 The Enron scandal resulted in a late 2001 bankruptcy declaration. p 169