OIL INTERESTS OF US PRESIDENT BUSH AND VICE-PRESIDENT CHENEY

Early day motion 1793, tabled 16 June 2008 by Harry Cohen (Labour). Signed by 23 members.

That this House notes reports that based on US official returns, due to `imprecise ranges' President Bush and Vice-President Cheney could have investments of $20 and $100 million respectively; further notes that the US President has at least $1 million of investments held in a blind trust; further notes that none of the official returns indicate oil interests or investments but believes that both the President and Vice-President have had extensive such interests in the past; considers it very likely that they still have investments in oil, via blind trusts, and that they would very likely be aware of that; further notes that they are likely to resume ownership of oil shares when their terms of office conclude; further notes past campaign contributions from the oil industry; further notes that they have presided over policies which have led to a massive rise in the price of oil and that President Bush, in his latest London visit, gave an interview expressing coolness to the Prime Minister's proposal to bring down the world price of oil; and considers that there is prima facie evidence to consider that President Bush and Vice-President Cheney have acted in a way that lines their own pockets in a way only marginally more sophisticated than dictators of some developing countries in the past.

Signatures by party: Labour 20, Independent 2, Social Democratic and Labour Party 1.