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.”