Thursday, October 9, 2014

Picture and Word of the Day 10/09/14

Picture of the Day 10/09/14
File:Portree Isle of Skye.jpg
Isle of Skye, Scotland
http://commons.wikimedia.org/wiki/File:Portree_Isle_of_Skye.jpg
Word of the Day 10/09/14

Word: Akademske

Language: Bosnian 

Meaning: Academic 

Wednesday, October 8, 2014

Book Review: The Secret World of Oil by Ken Silverstein


First Impressions:
       I think that energy production and the people involved in that trade are interesting, so this book was a good fit for me. After enjoying Russell Gold’s book on Fracking, I thought I would delve into the world of oil and see how its innards functioned. To my surprise, I discovered many nasty aspects of the oil industry in this book. Previously, I thought some big oil company such as Exxon or BP would drill oil off the coast of Louisiana or Saudi Arabia and simply ship it to its consumer destination. However, I was blown away by the detailed information and personal stories that depict the true business of oil production. And believe me, the author did not sugarcoat anything in his novel, especially the corruption that involves Americans. Initially, I was surprised by how large a role graft and shady dealings played in the energy sector. I knew that corruption was bound to occur no matter what the trade was, but the scale of it and the opulence associated with it seemed unacceptable to me. I managed to read this book relatively fast, considering that I’m not the speediest reader on Earth. The chapters seemed to drag on a bit, but all the information included was necessary to paint the entire oil picture.

Sentence that Summarizes the Book:
       Corruption is the order of the day in the oil (and energy) business, especially in developing countries such as Equatorial Guinea and Cambodia; everyone aims to make a profit, regardless of the moral implications.

Important Events and Quick Summary:
       The novel started out by describing a Lebanese oil fixer by the name of Ely Calil. This mystery man is politically connected from “Africa to the Middle East to the US.” He has connections in Nigeria and Senegal but prefers to keep out of the limelight. After describing Calouste Gulbenkian, one of the first oil brokers, the author went on to hone in the point that oil middlemen have connections and access to small ruling families/the autocratic elite in the developing world. The biggest example of this blatant corruption is the Obiang family that tightly controls Equatorial Guinea, an African country that borders Cameroon and Gabon. The author spent considerable time on Teodorin Obiang, the spoiled son of the country’s President that does nothing but shop, be promiscuous, and run shell companies that generate millions of dollars. Most of his money comes from the ocean of oil that is present in his small country. The government of EG operates like this: Obiang gets the American officials to lobby for his country/family, regardless of his human rights’ violations. 

Teodorin Obiang
       The book next talked about oil traders, huge companies that move resources from the original country to a seller. The biggest example was Glencore, a public company valued at over $60 billion. It was extremely secretive until it recently revealed its IPO, and it mainly operates by bribing heads of states (i.e wining and dining them) to get lucrative natural resources deals in return. On page 126, the author perfectly stated “access is money.” Their powerful middlemen who secure these multi-million and billion deals include Gertler (a fixer that works in the Congo) and Brett Sciaroni (a shady lawyer who had to compensate for his lack of talent by working for Hun Sen, the leader of Cambodia who has an atrocious human rights’ record). The part of the book that surprised me the most was the section on Tony Blair. What is the former Prime Minister of England thinking when he charges thousands of dollars for speaking gigs and receives black money from Caspian dictators? However, this happens many times in the political arena. Greedy countries and power-hungry politicians want cheap trading deals and will support any regime/country (i.e. in Uzbekistan, Kuwait, Kazakhstan, or in the Middle East) that harbors these sought-after resources. The book ended by discussing the oil layout in Louisiana, a state that is famous for big oil giants that destroy the environment and legacy lawyers looking to make a buck.

Overall Message:
        Oil companies are caught up in the global game of greed and dishonesty. Bribes and back room deals are almost the norm now; for example, large oil firms hire lobbyists specifically to garner shady but lucrative deals. The gas pumped into your Sudan’s tank wasn’t obtained through honest means. The money probably was funneled towards the country’s ruling clan, while the poor masses were left without any type of government assistance or aid (i.e. food, infrastructure).

Verdict:
        Although the content in the book made me doubt the good nature of human beings, it was still eye-opening and a fascinating read. I thought I wanted to be involved in the energy industry before reading this, but now, I’m not so sure. All the corruption, plus the fact that most of the high profile fixers were men, has made a career in energy less attractive. I don’t want to compromise my values in pursuit of wealth. Out of 10, I would give this book a 9.

Other Book by Ken Silverstein?
       Silverstein has written for "Harper’s Magazine", the "Los Angeles Time", "Washington Monthly", and "The Nation." His other books include The Radioactive Boy Scout: The Frightening True Story of a Whiz Kid and His Homemade Nuclear Reactor, Turkmeniscam: How Washington Lobbyists Fought to Flack for a Stalinist Dictatorship, and Washington On $10 Million A Day: How Lobbyists Plunder the Nation (Global Issues). I was not able to find a website or twitter.

Tuesday, October 7, 2014

Picture and Word of the Day 10/07/14

Picture of the Day 10/07/14
Santa Monica, California, USA
http://en.wikipedia.org/wiki/Santa_Monica_Pier
Word of the Day 10/07/14

Word: Espedientea

Language: Basque

Meaning: Transcript 

Monday, October 6, 2014

Picture and Word of the Day 10/06/14

Picture of the Day 10/06/14
Okunoin Cemetery, Koyason, Japan
http://nl.wikipedia.org/wiki/Koyasan 
Word of the Day 10/06/14

Word: Kapsēta

Language: Latvian 

Meaning: Graveyard