The Crude Truth

Read Cockburn’s latest on the spill and BP.

“What goes around comes around. One of the greatest bailouts in history came in 1953, when the Eisenhower administration authorized a CIA-backed coup in Iran. The Anglo-Iranian Oil Company, owned by the British government,  had been expropriated and nationalized in 1951  by unanimous vote of  Iran’s parliament. The ’53 coup evicted prime minister Mohammed Mossadeq and installed  Shah Reza Pahlevi, the creature  of the West’s oil companies , with full tyrannical powers. The AIOC got back 40 per cent of its old concession and became an internationally owned consortium, renamed… British Petroleum.”

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