Arbusto Energy was an oil and gas exploration firm started in 1977 by former U.S. president George W. Bush. In 1984, the company merged with Spectrum 7 Energy Corp.
History
Arbusto Energy was organized in 1977, but did not begin operations until after Bush's unsuccessful 1978 run for Representative from Texas's 19th congressional district. In March 1979, the company began raising funds for oil exploration through private offerings. In April 1982, Bush decided to begin offering public drilling partnerships, but had difficulty raising subscriptions. and according to journalist Craig Unger, Bath invested $50,000 in Arbusto.
At the time of the investment, Bath was a representative for Saudi businessman Salem bin Laden, the oldest son of Mohammed bin Laden and the older brother of Osama bin Laden, founder of the Saudi Binladin Group, the largest oil construction company in Saudi Arabia. Bath's business partner Charles White later became involved in a legal dispute with Bath, during which he claimed that Bath had actually invested in the company on behalf of bin Laden and other Saudi businessmen.
See also
- Professional life of George W. Bush