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FTR #214 Trouble on Oiled Waters, Part II

MP3 Side 1 [1] | Side 2 [2]

Following a 1998 discussion of petroleum industry power politics, this program analyzes the phony “oil shortage” of the late 1970s against the background of the allegedly real “oil shortage” of the year 2000. Beginning with the soaring price of gasoline in the late winter and early spring of 2000, the program focuses on excerpts from the book The Secret War Against the Jews [3] by John Loftus and Mark Aarons (St. Martin’s Press, copyright 1994).

The authors draw on an exhaustive bibliography, as well as veteran American and British intelligence officers, to document collusion among George Bush’s CIA, the petroleum industry and Saudi Arabia. Together, these elements fabricated an alleged Soviet petroleum shortfall, as well as a phony “decline” in Saudi oil production. Career oil industry professional George Bush gave Jimmy Carter a CIA report that falsely maintained that the world would experience an oil shortage and that the Soviets might invade the Middle East in order to secure petroleum.

The goal of the report was to influence Jimmy Carter to increase oil production and to mandate weapons sales to Saudi Arabia in order to “defend against the Soviet menace”. Carter and Energy Secretary James Schlesinger instead responded with a program of conservation. This enraged the petroleum interests, which then responded with the phony “gas shortage” of 1979. This gas shortage helped to propel Jimmy Carter from office. (Schlesinger had resigned his post earlier in Carter’s administration.)

Former CIA director Bush became Vice-President under Reagan and (according to Loftus and Aarons) was the actual “power behind the throne.” Eventually, it became evident that the CIA report was false and that the Middle East was swimming in oil. Nonetheless, the CIA/Saudi/petroleum industry fraud was successful in conning consumers into accepting dramatically higher gasoline prices, destabilizing the Carter administration and persuading Congress and the President to authorize a Saudi military buildup.

That Saudi build-up tipped the military balance of power in favor of the Arabs. Most importantly, the phony oil shortage set the stage for an unprecedented military build-up during the Reagan administrations. That military build-up tripled the U.S. national debt in eight years.

The program concludes with a look at the Republican attempt to blame Al Gore for the increase in the price of gasoline. George Bush’s son, George W. Bush is running for President on the Republican ticket. Like his father, he is a career petroleum-industry professional.

Program Highlights Include: discussion of George W’s connections to Saudi business interests; media criticism of the phony CIA oil report; analysis of the drop in refinery production in 1979 and its influence on the “gas shortage;” a veteran intelligence officer’s blunt statement that the “gas shortage” of 1979 was as phony as the George Bush-led CIA’s fabrications about Soviet petroleum shortfall; speculation that the oil shortage of 2000 is being deliberately arranged in order to put George W. Bush in the White House. (Recorded on 3/19/2000.)