News Sex, Drugs & Oil: Government Ties to Industry

[AstroRoyale]

Government quite literally in bed with the oil industry. . .

http://www.forbes.com/business/2008/09/10/sex-drugs-oil-biz-beltway-cx_jz_0909rik.html

 

[Astronuc]

Illicit Sex By Government Officials Probed
http://www.npr.org/templates/story/story.php?storyId=94482311
by Jeff Brady and Robert Siegel

All Things Considered, September 10, 2008 · Federal investigators say U.S. officials handling billions of dollars in oil royalties engaged in illicit sex with employees of energy companies. Thirteen Interior Department employees in Denver and Washington may have been involved.

http://www.npr.org/latestnews/#MT94479814

The Interior Department's inspector general delivered three reports to Congress outlining alleged wrongdoing by at least 12 current and former employees of the Mineral Management Service in Denver and Washington, D.C.

Inspector General Earl E. Devaney wrote that the investigation revealed "a culture of ethical failure" in which government employees accepted golf and ski trips from oil company employees, The New York Times reported.

Nearly a one-third of the 55-person staff in the Denver office received gifts and gratuities from oil and gas companies between 2002 and 2006, the investigators found.

Our tax dollars at work, or play in this case.

So how much of the royalties were not collected?

 

[LURCH]

Does anyone else think the timing on this was a bit convenient? Thay've been investigating for more than two years, and had nothing to report until September of an ellection year?

The news reports contain that quote that says this "can't help but influence" the debate about drilling. I'm not sure I agree. The curruption found in this ivnestigation doesn't alter our need for oil. But perhaps it might cast doubt on the reality of that need. Maybe people will think that htese currupt politicians hoaxed the energy shortage?

Do you guys think the general public will see the two things as related?

 

[Gokul43201]

And in related news:

Bribery scandal rocks Big Oil
A former Halliburton exec has pleaded guilty to being in cahoots with crooked foreign officials. He's now helping US investigators, and a much wider crackdown is expected to unfold.

In the world of Big Oil, Albert "Jack" Stanley was legendary for winning billion-dollar contracts in Third World countries as the Halliburton (HAL, news, msgs) executive who knew all the secrets of deals in places like Malaysia, Egypt and Yemen.

In the wake of his admission in a guilty plea last week that he had resorted to bribes, kickbacks and high-level corruption to secure deals in Nigeria, however, Stanley now lies at the center of a widening scandal in the oil industry that has implications for corporations and governments across the globe.

Stanley's case is the first in what federal officials believe will be a string of indictments in coming months against U.S. corporate executives who have participated in bribing foreign officials in recent years.
...
Stanley has already acknowledged paying bribes to unnamed senior Nigerian officials, although reports have identified the primary recipient as Nigeria’s late president, Sani Abacha. Stanley also has admitted receiving kickbacks of $10.8 million from contracts that Halliburton and predecessor companies signed with governments in Nigeria, Malaysia, Egypt and Yemen. Government officials in those countries, with the exception of Abacha, have not yet been implicated, according to a person familiar with the investigation.

Stanley's testimony may also pose concerns for Vice President Dick Cheney, who ran Halliburton between 1995 and 2000, when Stanley was appointed as KBR's chief executive officer. Cheney has consistently denied wrongdoing.

http://articles.moneycentral.msn.com/Investing/Extra/bribery-scandal-rocks-big-oil.aspx