Saturday, May 1, 2010

Imperial Oil

Juan Cole provides a little background on the history of the company that is responsible for the oil spill disaster in the Gulf of Mexico:

BP, by the way, is British Petroleum, a descendant of the Anglo-Iranian Oil Company. The Iranian parliament asked for a better deal from the AIOC in the late 1940s and early 1950s (they wanted a 50/50 cut of the profits, which was what ARAMCO offered Saudi Arabia). The AIOC absolutely refused. In response, the Iranian parliament nationalized the AIOC holdings in 1951. It was in order to restore Western Big Oil to its Iranian holdings that the CIA overthrew the democratically elected government of Iran in 1953, putting the shah back on the throne as a megalomaniacal capitalist dictator and puppet of Washington. The enraged Iranian public overthrew the shah in 1978-79, establishing the Islamic Republic that has been a thorn in Washington’s side ever since. So, BP’s earlier arrogance helped produce our current crisis with Iran, just as it’s [sic] current incompetence has produced the massive Delaware-sized oil slick now devouring Louisiana.

HT to Balloon Juice.