Bath has a mysterious connection to the Central Intelligence Agency.
In sworn depositions, Bath admitted he represented four wealthy Saudi Arabian businessmen as a trustee. He also admitted he used his name on their investments and received, in return, a five- percent stake in their business deals. Indeed, Texas tax documents revealed that Bath owned five percent of Arbusto '79 Ltd. Bush Exploration Company controlled the limited partnerships, the general partnership firm owned by young George W.
Bush's Texas oil ventures were financial failures, his financial backers recovered their investments through a series of mergers and stock swaps. The Bush-controlled oil business eventually ended up being folded into Harken Energy Corp. Bush joined Harken as a director in and was given , shares of Harken stock.
Bush used his White House connections to land a lucrative contract for the obscure Harken Energy Corp. On June 20, , George W. Some critics claim young George was tipped off in advance by his father about the soon-coming Gulf War.
Bush, however, worked wonders for Harken Energy Corp. Using the Bush family name, he managed to bring much-needed capital investment to the struggling firm. He first gained political prominence as a fund-raiser for President Jimmy Carter. Jack Stephens didn't need an introduction to young George W. Bush won the contested Florida election in , Jack Stephens made a substantial contribution to the Bush inauguration.
The former president told Stephens, "Jack, we love you and we are very, very grateful for what you have done. Both Stephens and Abdullah Taha Bakhsh, a wealthy and well-connected Saudi real estate investor, signed the financial transaction. Bush with Saudi banker Khaled bin Mahfouz. Mahfouz is no stranger to the Bush family. He was a big investor in the Carlyle Group, a defense-industry investment group with deep connections to the Republican Party establishment.
Former President Bush is a former member of the company's board of directors. Bush also held shares in Caterair, a Carlyle subsidiary. Sami Baarma, a powerful player in the Mahfouz-owned Prime Commercial Bank of Pakistan, is a member of the Carlyle Group's international advisory board.
President Bush certainly is aware of that his former Saudi sugar daddy is still financing Osama bin Laden's terrorist network. USA Today newspaper reported in that a year after bin Laden's attacks on US embassies in Africa, Khaled bin Mahfouz and other wealthy Saudis were funneling tens of millions of dollars each year into bin Laden's bank accounts. Bakhsh also bought a 9. Abdullah Bakhsh's share was the identical percentage as the amount of shares sold by Mochtar Riady, the godfather of the wealthy Indonesian family with close ties to the Chinese communists, Bill Clinton and evangelist Pat Robertson.
Independent investigator reporter David Twersky reported in the early s that Othman had a seat on Harken's board of directors and met three times in the White House with President George Herbert Walker Bush.
There exist to this day an Arab-Texas connection. Khalid bin Mahfouz, financier of both George W. Former President George Bush also lives in Houston. James Bath, Texas political confidant of George W. According to published reports in the early s, the real owner was bin Mahfouz.
Since Osama bin Laden's bloody attack on America on September 11, the federal government has moved quickly to freeze bank accounts connected to Osama bin Laden, Khalid bin Mahfouz, and a host of Islamic charities. Rapid technological advances have dramatically brought down the cost of pumping oil everywhere, especially out of the Permian. The rise of Texas, which is also home to the Eagle Ford oilfield in the state's south, shows how the shale oil revolution has reshaped the global energy landscape.
The United States is pumping more oil than ever before, making it less reliant on the turbulent Middle East for imports.
The combined output of the Permian and Eagle Ford is expected to rise from just 2. That means Texas will account for more than half of America's total oil production. By comparison, Iraq's daily production is seen at about 4. Oil supplies from Iran are likely to plunge due to tough sanctions from the United States. Why oil prices are suddenly tanking. However, the boom in Texas has been so rapid that growing pains have emerged. The Permian Basin is quickly running out of pipelines to transport oil out of Texas, forcing companies to explore costly and potentially dangerous alternatives like rail and trucks.
More pipelines are getting built, but they won't be ready in time to fix the bottlenecks that have formed. Fifty-five percent of executives surveyed by the Dallas Federal Reserve expect the lack of crude oil pipeline capacity will slow activity in the Permian. HSBC called the Permian a "victim of its own success" and predicted that logistical constraints will cause production growth will slow in the future. The pipeline shortage is already hurting local prices.