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uh. no.

Why do you think Marc Rich Co. agent in Nigeria was the first lady of the land at the time?

A major I know very well paid a certain Nigerian agent 5 cts/bbl on certain trades.  Wonder why?

Enel would only purchase oil for years through a very limited number of purposely created companies that consisted of little more than a couple of guys in suits and a phone.  They'd sell on to you Mr. Big Oil/Trader but only at a guaranteed margin of $6-8/ton (about 8-12% at the time).  Wonder why?

How many Enel managers are being caught taking bribes even now?

Trust me on this, the biz was dirty as hell and the European traders, including state oil cos, were right in the thick of it.

by HiD on Fri Mar 30th, 2007 at 06:10:03 PM EST
[ Parent ]
I think I was unclear. Corruption is real alright, and I do not doubt your examples.

What I refered to was stories like this joke:

The joke was Exxon's man could offer an official a nice pen.  Elf could offer a Mercedes.

And the implication that Exxon does its business fair, it is the others that are dirty. That reminded me of similar stories of how swedish companies are honest and thus fooled by their crocked foreign competitors.

So what I am disputing is if indeed Exxon did not offer more then a pen.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Fri Mar 30th, 2007 at 10:28:22 PM EST
[ Parent ]
But it was generally impossible for a US major oilco trader to simply cut an official a check for a bribe.  Europeans could be that direct.  US Oilcos do play games via agents etc.  the 5ct agent I referred to worked for a US major.  Tended to be on larger projects rather than one of, "let me have a cargo of Bonny Lite, here's $10K to make it happen".

US companies are not virgins in the forest.  No argument there.

by HiD on Sat Mar 31st, 2007 at 05:50:05 PM EST
[ Parent ]
Swedish armtraders apparently also plays by way of agents.

A bribery scandal (by way of agents) was recently uncovered by a swedish documentary. JAS Gripen was sold and leased (two seperate deals) to the Czech republic and some pretty serious money changed hands to make it so.

A vote for PES is a vote for EPP! A vote for EPP is a vote for PES! Support the coalition, vote EPP-PES in 2009!

by A swedish kind of death on Sat Mar 31st, 2007 at 06:57:05 PM EST
[ Parent ]
The arms trade is ten times as dirty as the oil industry.

I was rather shocked that anyone was surpried we do it too. If we didn't, we wouldn't get any planes sold.

Peak oil is not an energy crisis. It is a liquid fuel crisis.

by Starvid (arvid.hallen at gmail.com) on Mon Apr 2nd, 2007 at 06:15:32 AM EST
[ Parent ]
"Was" dirty as hell?

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
by ChrisCook (cojockathotmaildotcom) on Sat Mar 31st, 2007 at 04:30:40 AM EST
[ Parent ]
I'm out of date.  I can hope it got better (and where is that Ferrari Dad?)
by HiD on Sat Mar 31st, 2007 at 05:55:36 PM EST
[ Parent ]

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