American oil tycoon accused of trying to conspire with OPEC to inflate prices

[IronLionZion]

https://www.cnn.com/2024/05/02/energy/oil-ceo-opec-scott-sheffield/index.html



New York
CNN
—
Scott Sheffield, founder and longtime CEO of a leading American oil producer, attempted to collude with OPEC and its allies to inflate prices, federal regulators alleged on Thursday.

The Federal Trade Commission said Sheffield, then CEO of Pioneer Natural Resources, exchanged hundreds of text messages discussing pricing, production and oil market dynamics with officials at the Organization of the Petroleum Exporting Countries, or OPEC, the oil cartel led by Saudi Arabia.

Regulators say Sheffield used WhatsApp conversations, in-person meetings and public statements to try to “align oil production” in the Permian Basin in Texas with that of OPEC and OPEC+, the wider group that includes Russia.

“Mr. Sheffield’s communications were designed to pad Pioneer’s bottom line — as well as those of oil companies in OPEC and OPEC+ member states — at the expense of US households and businesses,” the FTC complaint said.

Unlike with OPEC nations, US oil production is supposed to be decided by the free market, not by coordination among the major players.

Hmm...maybe it's not Biden's socialist policies keeping prices high, but actually corporate greed. I'm shocked. Shocked I tell you.

[Think. Again.]

1. Trying?

[Kid Berwyn]

2. Jimmy Carter got canceled by Saudi Arabia and Big Oil.

How a Deep State Plot Sank Jimmy Carter

PETER DALE SCOTT
WhoWhatWhy.Org, 11/02/14

The Safari Club was an alliance between national intelligence agencies that wished to compensate for the CIA’s retrenchment in the wake of President Carter’s election and Senator Church’s post-Watergate reforms. As former Saudi intelligence chief Prince Turki bin Faisal once told Georgetown University alumni,

In 1976, after the Watergate matters took place here, your intelligence community was literally tied up by Congress. It could not do anything. It could not send spies, it could not write reports, and it could not pay money. In order to compensate for that, a group of countries got together in the hope of fighting Communism and established what was called the Safari Club. The Safari Club included France, Egypt, Saudi Arabia, Morocco, and Iran. (1)

After Carter was elected, the Safari Club allied itself with Richard Helms and Theodore Shackley against the more restrained intelligence policies of Jimmy Carter, according to Joseph Trento. In Trento’s account, the dismissal by William Colby in 1974 of CIA counterintelligence chief James Angleton,

combined with Watergate, is what prompted the Safari Club to start working with [former DCI Richard] Helms [then U.S. Ambassador to Iran] and his most trusted operatives outside of Congressional and even Agency purview. James Angleton said before his death that “Shackley and Helms … began working with outsiders like Adham and Saudi Arabia. The traditional CIA answering to the president was an empty vessel having little more than technical capability.”(2)

Trento adds that “The Safari Club needed a network of banks to finance its intelligence operations. With the official blessing of George Bush as the head of the CIA, Adham transformed . . . the Bank of Credit and Commerce International (BCCI), into a worldwide money-laundering machine.”(3) Trento claims also that the Safari Club then was able to work with some of the controversial CIA operators who had been forced out of the CIA by Turner, and that this was coordinated by Theodore Shackley:

Shackley, who still had ambitions to become DCI, believed that without his many sources and operatives like [Edwin] Wilson, the Safari Club—operating with [former DCI Richard] Helms in charge in Tehran—would be ineffective. . . . Unless Shackley took direct action to complete the privatization of intelligence operations soon, the Safari Club would not have a conduit to [CIA] resources. The solution: create a totally private intelligence network using CIA assets until President Carter could be replaced. (4)

Continues…

https://whowhatwhy.org/politics/government-integrity/the-deep-state-plots-the-1980-defeat-of-jimmy-carter/

Big Oil, the Saudi Roils and global Petroligarchs HATE democracy -- and Democratic administrations. They will do all they can to get every last penny this extracted mineral can yield, even if it destroys the planet in the process. They think they can buy an island or safety aboard a yacht or whatever. Seeing who their friends are, that might be a good thing.

[AllaN01Bear]

4. they are trying to sink biden in my humble opinion.

[Maraya1969]

3. Just found a site that says his net worth is over 6 billion. What the hell is the matter with

this guy? That is not enough money for him?

I tell you one thing. He is not a happy person. Always needing more is a horrible place to be. There is no difference between him and a crack addict besides their drug of choice and how the specific problems created by it manifest in his world.

[Yo_Mama_Been_Loggin]

5. K&R