November 1998 Vol. 219 No. 11  Comment

R. W. Scott

Saudi stuff etc.

Saudi Arabian Crown Prince ’Abd Allah al-’Aziz Al Sa’ud visited Washington, DC back in September. While there he reportedly invited honchos from Exxon, Chevron, Texaco, and Mobil, the four founders of the original Aramco, plus Conoco, Arco, Oxy, Amoco, and Phillips to tea at Saudi Ambassador Prince Bandar Bin Sultan’s house. His invitation stated he wanted to talk to the invitees about the currently depressed oil market and "share his personal thoughts etc." concerning future developments in the Saudi oil industry.

According to a Washington Post story, his major thought included bluntly asking for "recommendations and suggestions" about the role the oil companies might play in future upstream activities in the kingdom. The oil folks were reportedly "shocked" at the idea of participation, a complete flip-flop of long-time Saudi policy of excluding foreign companies (except for numerous consultants from the four American founders over the years). Probably shocked as well was current Saudi Aramco Chairman and Saudi Oil Minister Ali Naimi, who is said to "strongly oppose" any such foreign participation. If the Prince makes a deal, Ali will either have to change his tune or maybe join his predecessor, Ahmed Zaki Yamani, in the consulting business in London.

A shocker this is for sure and is perhaps an indication that Saudi Aramco is desperately in need of money due to the continuing oil price depression or that the Saudization of Aramco — which we hear has led to some operational nightmares — hasn’t worked out too well.

Latest speculation (overheard in an oilfield watering hole, naturally) is that Oxy, Mobil and Chevron have the inside track on a Saudi exploration and development joint venture. One proposed name for the troika is Oxymoron. Reportedly, both Mobil and Chevron hope Oxy doesn’t drop out, considering the resulting acronym.

Whoever gets the deal will have something to brag about. And it should be a heck of a lot more secure than all those made in the Former Soviet Union in recent years. The U.S. commitment to defend Saudi will guarantee continuance of the present regime from external forces, as happened in 1990. But what can’t be guaranteed is removal of the current monarchy from within, not an impossibility in that neck of the woods.

Stay tuned.

Waste, mismanagement and fraud in nearly every UN operation across Europe, Africa, the Middle East and North and South America have been revealed by its own internal auditors according to a recent report in The Sunday Times. And the UN hierarchy continues to wonder why the U.S. and others are hesitant to send money to a bunch of profligate creeps responsible to nobody. Some brief examples:

• The Secretary General of the UN conference on living conditions for the poor, Habitat II, held in Istanbul a while back, spent $370,000 on travel preparing for the conference. He also spent only ten out of 268 days at his office in Nairobi, Kenya.

• The deputy wheel of Habitat II spent $210,000 on his travel, including flights to his home in Brazil. He continued to charge travel to the UN after his $457,000 contract expired.

• Both jokers above hired fundraisers for the meeting, one of whom was paid $78,835 to raise $100,000 — but didn’t raise a red cent.

• The U.S. chief of the UN’s marketing and sales operation in New York awarded lucrative contracts to her boyfriend and couldn’t account for $120,000 missing from the 1995 Women’s Conference in Beijing — the one where the Chinese awarded Hillary the title of Best Propaganda Spreader in the world.

We have no information to what happened to these people, which were undoubtedly three of a massive school of fish who continue to squander money from the taxpayers of the world. We still think the UN should go to hell, with second choice to set up shop in Lagos, where all UN meetings henceforth on anything would be held — if only to see how many thieving bureaucrats would go along.

Ozoners of the month: (1) A while back, according to the Washington Times, Ozone presented one of his "coveted (by whom we can’t imagine) reinventing government" awards to one Theresa Squillacote. Turns out Ms. Theresa, a former lawyer in the defense department and ex-congressional staffer, was later arrested by the FBI. Also turns out she’d been spying for years for the Soviet Union and East Germany and attempting to spy for the South African Communist party. With such a sterling spying record, we may wish we knew more than we do about what she reinvented to get that award. Her husband, a honcho in the Democratic Socialists of America (whatever that is), was also arrested. We are not sure if this is the Democratic party or not, but the latter has been on a socialist binge for years — just like the Republicans. Ms. Theresa had also interviewed for a White House job just before her arrest. Incredibly, she apparently wasn’t hired, for what reason we can’t imagine with her obvious skills. Makes one wonder what sort of state secrets she’d have come up with that would have further "reinvented government" had she been invited into Billy Jeff’s romper room off the Oval office.

(2) Heard on the tube (Leno, we think): a nationwide poll was taken on America’s favorite vegetable. French fried potatoes won hands down. Ozone was second.

We’ve not commented much here on BJ Clinton’s antics because of the avalanche of media coverage. And we’ve been apprehensive about his leaving office and placing all that power in the hands of an envirodamnfool, namely Ozone. But enough is enough. Clinton is a felonious scoundrel who has clearly violated his oath of office and the rule of law — and he should go one way or the other. It’s now time to see how Ozone can screw things up. Hopefully, he’s as smart as we think he is.

A book to read: The coming oil crisis, by C. J. Campbell, published by Multi-Science Publishing Co., Ltd., 107 High St., Brentwood, Essex CM14 4RX, England. A pickerupper if you’re in the dumps about crude oil supply and prices.

Copyright © 1999 World Oil
Copyright © 1999 Gulf Publishing Company