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 : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (789989)	6/14/2014 4:04:56 PM
From: i-node	Read Replies (1) \| Respond to of 1578927

What I saw was this: 7. During the Iran-Iraq war, the al-Sabah family gave some $17 billion to Iraq. It saw the Iranian Shi'a revolution as a threat to itself, and so financed a long-standing Arab-Persian (Iranian) conflict. But it also had established farms and settlements over the Iraqi border. Most important, the al-Sabah family was also drilling in the Rumailah oil field. The Rumailah oil field is 95 percent in Iraq, but the al-Sabah family brought in the most sophisticated American oil-drilling technology to "slant drill" in its 5 percent of Rumailah while the Iraqis were unable to drill during the war (some of my Arabist friends were fairly sure there was an agreement about this: oil for financial backing). It sold that oil, at below OPEC prices, to Japan and the US (Kuwait has always played this role: increasing its sale of oil to the importers in times of crisis). The al-Sabah family by now was unimaginably rich, with an estimated wealth of some 90 billion dollars. They had invested about 50 billion dollars in the stocks of US companies. This is someone's opinion. Not proven fact. I'm not sufficiently interested to read the remainder of the article. And I NEVER read anything from NYT (in fact, I've excluded it from Google) because they have negative credibility. So, you think what you will. I don't personally care whether they did or they didn't, because it doesn't justify the invasion of Kuwait in any case. I simply don't believe there is proof Kuwait was stealing the oil. They may have been, it just hasn't been proved.