Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: Ilaine who wrote (88003)	3/30/2003 5:30:17 PM
From: Brumar89	Respond to of 281500

another conspiracy theory fails to survive contact with reality. Exactly. I checked a couple Saudi info sites. More historical info follows: >>>>> In 1933 (1351/52 AH), Twitchell arrived in Jeddah with a Socal representative, Lloyd Hamilton. Despite some impressive competition from the Iraq Petroleum Company, Hamilton succeeded in negotiating a concession for exclusive rights to oil in the eastern region The agreement which had a 60-year life (later to be extended for a further six years), received royal assent in July, 1933 (1352 AH). Thus, the Kingdom broke what had been virtually a British monopoly of oil concessions in that part of the world. <<<<< [This may be the source for the belief there is a 60 year American monopoly lease on SA's oil reserves. There once was but this was ended by the nationalization described below.] <<<<<< In 1973 (1392/93 AH), the Saudi Arabian government took a 25% stake in Aramco. In 1974 (1393/94 AH), this share was increased to 60% and in 1980 (1400/01 AH) it was amicably agreed that Aramco should become 100% Saudi-owned, with the date of ownership back-dated to 1976 (1396/97 AH). saudinf.com [In 1988, Aramco became Saudi Aramco, which seems to have been mainly a name change.] >>>>> The Saudi Arabian Oil Company, or Saudi Aramco, is the world's largest oil producing company. Set up by Royal Decree in 1988, it assumed the duties of its predecessor, the Arabian American Oil Company (Aramco). <<<<< saudinf.com